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[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 C Original Cost $ 24,000 53,000 76,900 Residual Value $ 3,000 4,000 5,400 Estimated Life 8 years 10 years 16 years Accumulated Depreciation (straight line) $15,750 (6 years) 39,200 (8 years) 53,625 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $7,750 cash. b. Machine B: Sold on December 31 for $9,600; received cash, $2,000, and a $7,600 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. 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 A Required B Required 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 depreciation of Machine A. Note: Enter debits before credits. General Journal Transaction January 01 Debit Credit Record entry Clear entry View general journal Journal entry worksheet A B Record the disposal of Machine A. Note: Enter debits before credits. General Journal Transaction January 01 Debit Credit Record entry Clear entry View general journal Journal entry worksheet B > Record the depreciation of Machine B. Note: Enter debits before credits. Transaction December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the depreciation of Machine C. Note: Enter debits before credits General Journal Debit Credit Transaction January 01 Record entry Clear entry View general journal Journal entry worksheet

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