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Required information [The following information applies to the questions displayed below.] Onslow...

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Accounting

Required information
[The following information applies to the questions displayed below.]
Onslow Company purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $8,000 to wire
electricity to the machine. Onslow paid an additional $1,600 on January 4 to secure the machine for operation. The
machine will be used for six years and have a $23,040 salvage value. Straight-line depreciation is used. On December 31,
at the end of its fifth year in operations, it is disposed of.
Prepare journal entries to record depreciation of the machine at December 31.
Journal entry worksheet
Record the year of disposal year-end adjusting entry for the depreciation
expense of the used machine.
Note: Enter debits before credits.
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