Onslow Company purchased a used machine for $$288,000$ cash on January $2.$ On January $3,$ Onslow paid $$8,000$ to wire electricity to the machine. Onslow paid an additional $$1,600$ on January $4$ to secure the machine for operation. The machine will be used for six years and have a $$34,560$ salvage value. Straight$-$line depreciation is used. On December $31,$ at the end of its fifth year in operations, it is disposed of$.$

Problem $8-6$A $($Algo$)$ Part $3$

$3.$ Prepare journal entries to record the machine's disposal under each separate situation: $($a$)$ it is sold for $$21,000$ cash and $(b)$ it is sol for $$84,000$ cash.

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$\backslash$table$[[,$No$,$Date,General Journal,,Debit,Credit$],[l,1,$December $31,$Cash,$,21,000,],[,,$Aocumulated depreciation$-$Machinery,,$213,700,],[,,$Loss on sale of machinery,,$63,300,+],[,,$Machinery,,,$288,000],[,,$a$,,,],[l,2,$December $31,$Cash,,$84,000,],[,,$Accumulated depreciaton$-$Machinery,,$213,700,],[,,$Machinery,,,$288,000]]$