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: Estimated Life 6 years Asset Machine A Machine B Machine C Original Cost $ 39,000 Residual Value $3,000 65,000 76,200 4,000 5,900 8 years 16 years Accumulated Depreciation (straight line) $24,000 (4 years) 45,750 (6 years) 52,725 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $14,500 cash. b. Machine B: Sold on December 31 for $12,125; received cash, $2,400, and a $9,725 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. Complete the following questions by preparing worksheet and journal entries given below. Required A Required R Required C