Problem 8-6A (Algo) Disposal of plant ossets LO C1, P1, P2 The following information applies to the questions displayed below.) Onslow Co. purchased a used machine for $144,000 cash on January 2. On January 3, Onslow paid $10,000 to wire electricity to the machine and an additional $2,000 to secure it in place. The machine will be used for six years and have a $17.280 salvage value Straight-line depreciation is used on December 31, at the end of its fifth year in operations, it is disposed of Problem 8-6A (Algo) Part 2 2. Prepare Journal entries to record depreciation of the machine at December 31 View transaction et Journal entry worksheet 2 Record the first year year-end adjusting entry for the depreciation expense of the used machine Note: Enter debits before credits Date General Journal Debit Credit 2. Prepare journal entries to record depreciation of the machine at December 31. View transaction list Journal entry worksheet N 2 Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31