please explian as well, thanks

Required information Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 {The following information applies to the questions displayed below) Onslow Co. purchased a used machine for $240,000 cash on January 2 On January 3. Onslow paid $8,000 to wire electricity to the machine and an additional S1600 to secure it in place. The machine will be used for six years and have a $28.800 salvage value Straight-line depreciation is used on December 31, at the end of its fidh year in operations, it is disposed of Journal entry worksheet