Help Onslow Co. purchases a used machine for $178,000 cash on January 2 and readies it for use the next day at a $2,840 cost On January 3, it is installed on a required operating platform costing $1,160, and it is further readied for operations The company predicts the machine will be used for six years and have a $14,000 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of roblem 8-6A Part 2 2. Prepare journal entries to record depreciation of the machine at December 31 View transaction list Journal entry worksheet Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits Next 11 12 of 12 C Prev 8 9 8 6 5 3