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: Asset Machine A Machine B Original Cost Residual Value Estimated Life Machine C $ 33,000 49,000 76,500 $ 3,000 4,000 5,100 8 years 10 years 17 years Accumulated Depreciation (straight line) $22,500 (6 years) 36,000 (8 years) 50,400 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $10,000 cash. b. Machine B: Sold on December 31 for $9,200; received cash, $2,100, and a $7,100 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.