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question during the current year rayon corporation disposed of two different assets 4291443


During the current year. Rayon Corporation disposed of two different assets. On January 1. prior to their disposal, the accounts reflected the following: Accumu Depreciation (straight-line) Original Residual Estimated Cost Value Life 8 years 6 years Asset $31,500 (5 years) Machine A $61,000 $10,600 2,000 Machine B 14.300 8,200 (4 years) The machines were disposed of in the following ways a. Machine A: Sold on January 2, for $33,600 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: 182. Give the journal entries related to the disposal of Machine A and Machine 8 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.) View transaction list Journal entry worksheet 2 Record the current year depreciation for Machine A prior to disposal. Note: Enter debits before credits. Date General Journal Debit Credit January 02 NO Journa Entry Reou rec Rsoond enty Clear eny.

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