11 Part 2013 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 $178,000 cash on January 2. On January 3, Onslow paid $2.840 to wire electricity to the mochine and an additional $1160 to secure it in place the machine will be used for six years and have a $14.000 salvage value Straight line depreciation is used on December 31, at the end of its fifth year in operations, it is disposed of 115 po Problem 8-6A Part 2 2. Prepare journal entries to record depreciation of the machine at Dece View transaction list 1 Record the first year year-end adjusting entry for the depreciation expense of the used machine. 2 Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine