PLEASE ANSWER TO BOTH PARTS A & B FOR REQUIRED A,B AND C. IN TOTAL THERE HAS TO BE 6 JOURNAL ENTRIES.

Required information P8-6 (Algo) Recording and Interpreting the Disposal of Three Long-Lived Assets LO8-3, 8-5 [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 Machine Accumulated Original Residual Estimated Depreciation Cost Value Life (straight line) $36,000 $3,000 10 years $26,400 (8 'years) 45,000 4,000 30,750 (6 years) 75,900 5,200 18 years 47,133 (12 years) 8 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 $9,725; received cash, $2,200, and a $7,525 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. P8-6 Part 1 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. Complete the following questions by preparing worksheet and journal entries given below. Required Required Required A B Give all journal entries related to the disposal of Machine A in 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 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. P8-6 Part 1 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. Complete the following questions by preparing worksheet and journal entries given below. Required Required Required A B Give all journal entries related to the disposal of Machine A in 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 B > Record the depreciation of Machine A. Note: Enter debits before credits. General Journal Debit Credit Transaction January 01 Record entry View general journal Clear entry Required Required Required A B Give all journal entries related to the disposal of Machine A in 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 Record the disposal of Machine A. Note: Enter debits before credits. General Journal Debit Credit Transaction January 01 Record entry View general journal Clear entry Required Required Required B Give all journal entries related to the disposal of Machine B in 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 A B > Record the depreciation of Machine B. Note: Enter debits before credits. General Journal Debit Credit Transaction December 31 Record entry View general journal Clear entry Required Required Required B Give all journal entries related to the disposal of Machine B in 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 Record the disposal of Machine B. Note: Enter debits before credits. General Journal Debit Credit Transaction December 31 Record entry View general journal Clear entry Required Required Required B Give all journal entries related to the disposal of Machine C in 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 A B > Record the depreciation of Machine C. Note: Enter debits before credits. General Journal Debit Credit Transaction January 01 Record entry View general journal Clear entry Required Required Required B Give all journal entries related to the disposal of Machine C in 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 Record the disposal of Machine C. Note: Enter debits before credits. General Journal Debit Credit Transaction January 01 Record entry View general journal Clear entry