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Required information Problem 8-6A Disposal of plant assets LO C1, P1, P2 The following information applies to the questions displayed below.) Onslow Co. purchased a used machine for $288,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1, 600 to secure it in place. The machine will be used for six years and have a $34,560 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. oblem 8-6A Part 2 Prepare journal entries to record depreciation of the machine at December 31 View transaction list Journal entry worksheet Record the first year year-end adjusting entry for the depreciation expense of the used machine. - -OR usposal of plant assets LO C1, P1, P2 The fowlowing information applies to the questions displayed below/ Onslow Co. purchased a used machine for $288,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1.600 to secure it in place. The machine will be used for six years and have a $34.560 salvage value. Straight line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of Problem 8-6A Part 2 2. Prepare journal entries to record depreciation of the machine at December 31 View transaction list Journal entry worksheet

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