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![Required information<br>[The following information applies to the questions displayed below.]<br>During the current year, Merkley Company disposed of three different assets. On January 1 of the current year, prior to the<br>disposal of the assets, the accounts reflected the following:<br>Accumulated<br>Original<br>Depreciation<br>(straight line)<br>$13,500 (6 years)<br>55,200 (8 years)<br>Residual<br>Estimated<br>Asset<br>Cost<br>Value<br>Life<br>$ 21,000<br>$ 3,000<br>4,000<br>8 years<br>10 years<br>Machine A<br>Machine B<br>73,000<br>Machine C<br>75,600<br>6,100<br>16 years<br>52,125 (12 years)<br>The machines were disposed of during the current year in the following ways:<br>a. Machine A: Sold on January 1 for $7,100 cash.<br>b. Machine B: Sold on December 31 for $11,700; received cash, $2,300, and a $9,400 interest-bearing (12 percent) note<br>receivable due at the end of 12 months.<br>c. Machine C: On January 1, this machine suffered irreparable damage from an accident. On January 10, a salvage<br>company removed the machine at no cost.<br>Required:<br>1. Give all journal entries related to the disposal of each machine in the current year.<br>a. Machine A.<br>b. Machine B.<br>c. Machine C.<br>Complete the following questions by preparing worksheet and journal entries given below.<br>Required A<br>Required B<br>Required C<br>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](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_muday50-cee2uiud.png)
Record the disposal of Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Record entry Clear entry View general Journal < required="" a="" required="" c=""> "/>
Extracted text: Required information [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: Accumulated Original Depreciation (straight line) $13,500 (6 years) 55,200 (8 years) Residual Estimated Asset Cost Value Life $ 21,000 $ 3,000 4,000 8 years 10 years Machine A Machine B 73,000 Machine C 75,600 6,100 16 years 52,125 (12 years) The machines were disposed of during the current year in the following ways: a. Machine A: Sold on January 1 for $7,100 cash. b. Machine B: Sold on December 31 for $11,700; received cash, $2,300, and a $9,400 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 C 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 > Record the disposal of Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit December 31 Record entry Clear entry View general Journal < required="" a="" required="" c="">