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The machines were disposed of in the following ways: a. Machine A: This machine was sold on January 1 for $6,270 cash. b. Machine B:
The machines were disposed of in the following ways: a. Machine A: This machine was sold on January 1 for $6,270 cash. b. Machine B: On January 1, this machine suffered irreparable damage from an accident and was removed immediately by a salvage company at no cost. Required: 1. Prepare the journal entries related to the disposal of each machine at the beginning of the current year. Transaction "a" relates to the recording of the depreciation, and transaction " b " relates to the recording of the disposal of the machine. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Machine A - Jan. 1: Journal entry worksheet 2 Record the entry for depreciation expense. Note: Enter debits before credits. Machine B - January 1: Journal entry worksheet Record the entry for depreciation expense. Note: Enter debits before credits
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