answer problem 3

Required information Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below! Onslow Co. purchased a used machine for $144.000 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 $17.280 salvage value. Straight-line depreciation is used on December 31, at the end of its fifth year in operations, it is disposed of K > 2 Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journal 2 Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Hote: Enter debits before credits. Debit Credit Date General Journal Dec 31 Record entry Clear entry View general jour