! Required information [The following information applies to the questions displayed below.] During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to the disposal of the assets, the accounts reflected the following: Accumulated Original Residual Estimated Depreciation (straight line) $24,750 (6 years) 45,600 (8 years) 53,175 (12 years) Value Life Asset Cost $ 36,000 Machine A $3,000 8 years 10 years 16 years Machine B 61,000 76,900 4,000 6,000 Machine C The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $10,750 cash. b. Machine B: Sold on December 31 for $10,300; received cash, $2,000, and a $8,300 interest- bearing (12 percent) note receivable due at the end of 12 months. c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage company removed the machine at no cost. Required: 1. Give all journal entries related to the disposal of each machine in the current year. a. Machine A b. Machine B. c. Machine C Required C Required A Required B Give all journal entries related to the disposal of Machine A in the current year. (If no entry is required for a transaction/ journal entry required" in the first account field.) View journal entry worksheet View transaction list General Journal No Transaction Debit Credit No journal entry required January 01 Cash January 01 10,750 Accumulated depreciation, Machine A Loss on disposal of machine 24,750 500 36,000 Equipment (Machine A) Required A Required B Required A Required C Required B Give all journal entries related to the disposal of Machine B in the current year. (If no entry is required for a transaction journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record the depreciation of Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Required B Required A Required C Give all journal entries related to the disposal of Machine B in the current year. (If no entry is required for a transaction/ journal entry required" in the first account field.) View transaction list Journal entry worksheet