PB9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] During the current year,...

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PB9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine A Original Cost $61,000 Machine B 14,300 Residual Value $10,600 2,000 Estimated Life 8 years 6 years Accumulated Depreciation (straight-line) $31,500 (5 years) 8,200 (4 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2, for $33,600 cash. b. Machine B: On January 2, this machine was scrapped with zero proceeds (and zero cost of removal). Required: 1.&2. Prepare the journal entries related to the disposal of Machine A and Machine B on January 2 of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date January 02 General Journal Debit Credit View general journal Record entry Clear entry PB9-2 (Algo) Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5] During the current year, Rayon Corporation disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Asset Machine A Original Cost $61,000 Machine B 14,300 Residual Value $10,600 2,000 Estimated Life 8 years 6 years Accumulated Depreciation (straight-line) $31,500 (5 years) 8,200 (4 years) The machines were disposed of in the following ways: a. Machine A: Sold on January 2, for $33,600 cash. b. Machine B: On January 2, this machine was scrapped with zero proceeds (and zero cost of removal). Required: 1.&2. Prepare the journal entries related to the disposal of Machine A and Machine B on January 2 of the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date January 02 General Journal Debit Credit View general journal Record entry Clear entry