Orslow Co purchases a use machine fo S288,000 cash on Jariuary 2 arnd readies it for use the nexl day al a S10,000 cost. On January 3, It is Installed on a required opera ing plattorm costing S2,000, and t is turther readied for operations The company predirts the machine will he used for six years and have a S34 560 salvage value Depreciation is ta he charged on a straight line basis. On December 31, at the end of ts fith year in operations, it is disposed of 3. Prepare journal entries to record the machine's disposal under each of the tolowing separate assumptions: 1 Record the sale of the used machinc for $22,500 cash 2 Record ihe sale of lhe used rndchime fot $90,000 cash. 3. Hecond the insurance settlement receved ot S33.000 resulting trom the total dlestruction ot the machine in a fire. View transacion is Journal entry worksheet Journal entry worksheet Journal entry worksheet Record the insurance settlement received of $33,000 resulting from the totel dastruction at Record th Gaia or the used machine tor s22, 500 cash. Record tn sale ot tha used machina for s0,000 cash. f the machine nter dehite befare Dec 31 Dec. 31 Record entry Clear entry View general jourmal Recoed enty Clear entry new gener Recond entry View paneral journal