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Problem 10-6A Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below.) Onslow Co purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place. The machine will be used for six years and have a $23,040 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Record the purchase of a used machine for $192,000 cash. Note: Enter debits before credits. Date General Journal Debit Credit Jan 02 Record the costs of $6,000 incurred on the used machine. Note: Enter debits before credits. Date General Journal Debit Credit Jan 03 Record entry Clear entry Record the cost of $1,200 for an operating platform. Note: Enter debits before credits Date General Journal Debit Credit Jan 03