Check 12 Part 3 of 3 Required information Problem 8-6A Disposal of plant assets LO C1, P1, P2 The following information apples to the questions displayed below) Onslow Co purchased a used machine for $178,000 cash on January 2 on January 3, Onslow pold 52,840 to wire electricity to the machine 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 operation, it is disposed of 12 point ebook Problem 8-6A Part 3 3. Prepare journal entries to record the machines disposal under each separate situation (mit is sold for $15,000 cash (by it is sold 550.000 cash, and it is destroyed in a fite and the insurance company pays $30,000 cash to settle the loss claim View transaction is Tournal entry worksheet 2 Dronare inrral ontrinc trocart the machine diennalindoronch canarito 12 Required information View transaction list HE Part 3 of 3 X: 2 points 1 Record the sale of the used machine for $15,000 cash. 2 Record the sale of the used machine for $50,000 cash. eBook Print 3 Record the insurance settlement received of $30,000 resulting from the total destruction of the machine in a fire. References Credit