HapQuestion 4 Macian L.. Light Cycle Furnished A... G Can i buy ap My Account Get Transcri Log in-Free Chapter 8 Homework Saved Help Save & Exit Submit 4 D Required information Check my work Part 1 of 31 3 [The following information applies to the questions displayed below] Onslow Company purchased a used machine for $144,000 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 $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 Mc Graw Hill P erences 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 ncurred View transaction list Journal entry worksheet < 1 2 3 Record the purchase of a used machine for $144,000 cash. < Prev