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.

Answer in this format please

Transcribed image text: Record the purchase of a used machine for $192,000 cash. Note: Enter debits before credits. Date General Journal Jan 02 Debit Debit Credit Record entry Clear entry View general journal