newconnect Music 101 Connect Saved Help Save & Exit Subm Check my work Required information The following information applies to the questions displayed below Onslow Co. purchases a used machine for $240,00 cash on January 2 and readies it for use the next day at a $8,000 cost. On January 3, it is installed on a required opefating platform costing $1,600, and it is further readied for operations. The compary predicts the machine will be used for six years and have a $28,800 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 2. Prepare journal entries to record depreciation of the machine at December 31 View journal emry 2 Dec 31 prev 14 15 of 16Next >