Business, 14.04.2020 19:57, sierravick123owr441

PB9-2 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 Original Cost Residual Value Estimated Life Accumulated Depreciation (straight-line) Machine A $ 60,000 $ 11,000 7 years $ 28,000 (4 years) Machine B 14,200 1,925 5 years 7,365 (3 years) The machines were disposed of in the following ways: Machine A: Sold on January 2, for $33,500 cash. Machine B: On January 2, this machine was sold to a salvage company at zero proceeds (and zero cost of removal). Required: 1.&2. Give 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.)

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