Business, 02.11.2019 05:31, Maria3737

During the current year, martinez company disposed of two different assets. on january 1, prior to their disposal, the accounts reflected the following: asset originalcost residualvalue estimatedlife accumulateddepreciation(straight-li ne) machine a $ 76,700 $ 4,300 15 years $ 62,747 (13 years) machine b 20,500 2,100 8 years 13,800 (6 years) the machines were disposed of in the following ways: a. machine a: sold on january 2 for $20,500 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 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.)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.

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During the current year, martinez company disposed of two different assets. on january 1, prior to t...