i need help with loss on sale machinery

Required information Problem 10-6A (Algo) Disposal of plant assets LO C1, P1, P2 The following information applies to the questions displayed below) Onslow Company purchased a used machine for $288,000 cash on January 2 On January 3, Onslow paid $10.000 10 wire electricity to the machine. Onslow paid an additional $2,000 on January 4 to secure the machine for operation. The machine will be used for six years and have a $34,560 salvage value Straight-line depreciation is used. On December at the end of its fifth year in operations, is disposed of Problem 10-6A (Algo) Part 3 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $24,500 cash and (of it is sold for $98.000 cash No Date Crest 1 December 31 Answer is complete but not entirely correct. General Journal Debit Cash 24500 Accumulated depreciation -- Machinery 221.200 Loss on sale of machinery 195,7003 Machinery OOOO 300.000 2 December 31 98.000 221200 Cash Accumulated depreciation-Machinery Machinery Gain on sale of machinery OOOO 300.000 3.200 sold for $98.000 cash The machine's disposal under each separate situation (a) it is sold for $24,500 cash an ok View transaction list int Journal entry worksheet ences Record the sale of the used machine for $24,500 cash. Note: Enter debits before credits Debit Credit Date General Journal December 31 Cash Accumulated depreciation-Machinery Loss on sale of machinery Machinery 24,500 221,200 196,700 300,000 Clear entry View general Journal Record entry