Required information [The following information applies to the questions displayed below.] During the current year, Merkley Company disposed disposal of the assets, the accounts reflected the following: three different assets. On January 1 of the current year, prior to the Accumulated Original Residual Estimated Depreciation (straight line) $32,500 (10 years) 36,750 (6 years) 48,353 (12 years) Asset Cost Value Life Machine A $ 42,000 $ 3,000 12 years 8 years Machine B Machine C 53,000 4,000 75,200 6,700 17 years The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $9,000 cash. b. Machine B: Sold on December 31 for $10,625; received cash, $2,300, and a $8,325 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. . achine A. b. Machine B. c. Machine C. Record the depreciation of Machine A. Note: Enter debits before credits. Transaction General Journal Debit Credit January 01 Record the disposal of Machine A. Note: Enter debits before credits. Transaction General Journal Debit Credit January 01 Record the depreciation of Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Record the disposal of Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Record the depreciation of Machine C. Note: Enter debits before credits. Transaction General Journal Debit Credit January 01 Record the disposal of Machine C. Note: Enter debits before credits. Transaction General Journal Debit Credit January 01