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need help with second and third parts Onslow Company purchased a used machine for $192,000 cash on January 2 . On January 3 , Onslow

need help with second and third parts
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Onslow Company purchased a used machine for $192,000 cash on January 2 . On January 3 , Onslow paid $10,000 to wire electricity to the machine. Onsiow 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 $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. roblem 8-6A (Algo) Part 1 required: Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred: 2. Prepare journal entries to record depreciation of the machine at December 31. Journal entry worksheet Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. 2. Prepare journal entries to record depreciation of the machine at December 31. Journal entry worksheet Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $24,500 cash and (b) it is sold for $98,000 cash. Journal entry worksheet Record the sale of the used machine for $24,500 cash. Noto: Enter debits before credits. 3. Prepare joumal entries to record the machine's disposal under each separate situation: (a) it is sold for $24,500 cash and (b) it is sold for $98,000 cash. Journal entry worksheet Record the sale of the used machine for $98,000 cash. Note: Enter tebits before credis

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