$\backslash$table$[[$Asset$,$Cost,Residual Value Estimated Life,$($straight$-$line$),],[$Machine A$,$$$78,700,$$$5,100,15$ years,$$63,787(13$ years$)],[$Machine B$,22,500,2,500,8$ years,$15,000(6$ years$)]]$

The machines were disposed of in the following ways:

a$.$ Machine A: Sold on January $2$ for $$22,500$ cash.

b$.$ Machine B: On January $2,$ this machine was scrapped with zero proceeds $($and zero cost of removal$).$

Required:

& $2.$ Prepare the journal entries related to the disposal of Machine A and $B$ on the January $2$ of the current year. TIP: When no cash received on disposal, the loss on disposal will equal the book value of the asset at the time of disposal.

Note: If no entry is required for a transaction or event, select $"$No Journal Entry Required" in the first account field.

$$

$$

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$January $02,$Cash,$22,500,],[,,$Accumulated Depreciation$-$Equipment,$63,787,],[,,$Gain on Disposal of PPE,,$],[,,$Equipment,,$78,700],[,,,,]]$