1 of 3 Book Ask vint rences Required information Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 [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 Problem 8-6A (Algo) Part 1 Required: 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred. View transaction list S search 3 Required information Journal entry worksheet 1 2 3 Record the purchase of a used machine for $192,000 cash. Note: Enter debits before credits. Date January 02 O General Journal Debit Credit G Prev 1 2 3 of 3 Next > 7515 1 Required information Journal entry worksheet Part 1 of 3 5 points < 2 3 Record the costs of $8,000 incurred on the used machine. eBook Aski Print References Note: Enter debits before credits. Date January 03 General Journal Debit Credit 3 Required information Journal entry worksheet 1 2 Record the cost of $1,600 for an operating platform. Note: Enter debits before credits, Date: January 04 General Journal Debit Credit Prev 1 2 3 of 3 Next >