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  3. during the current year, fortini company disposed

During the current year, Fortini Company disposed of three different assets. The company's accounts reflected...

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Accounting

During the current year, Fortini Company disposed of three different assets. The company's accounts reflected the following on
January 1 of the current years, prior to the disposal of the assets:
The machines were disposed of in the following ways:
a. Machine A : Sold on January 1 of the current year for $5,000 cash.
b. Machine B: Sold on April 1 for $10,500; received cash, $2,500, and a note receivable for $8,000, due on March 31 of the
following year, plus 6 percent interest.
c. Machine C: Suffered irreparable damage from an accident on July 2. On July 10, a salvage company removed the machine at
no cost. The machine was insured, and $18,000 cash was collected from the insurance company.
Required: Prepare all journal entries related to the disposal of each machine in the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round the final answer to nearest whole dollar.)
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