Return to questic During the current year, Martinez Company disposed of two different assets. On January 1. prior to their disposal, the accounts reflected the following Accumulated Depreciation (straight-line) original Residual Estimated Asset Cost ValueLife che82,200 $7,700 15 years$ 64,567 (13 years) Machine 26,000 3,200 8 years17.100 (6 yeans) The machines were disposed of in the following ways a. Machine A: Sold on January 2 for $26,000 cash. b. Machine B: On January 2, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost Required 1.& 2. Prepare the journal entries related to the disposal of Machine A and 8 on the January 2 of the current year, TIP: When no cash is received on disposal, the loss on disposal will equal the book value of the asset at the time of disposal. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)