Problem 8-6A Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below) 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 Problem 8-6A Part 3 is sold for 3. Prepare journal entries to record the machine's disposal under each separate tuanon s sold for $24.500 cash; 598.000 cash and it is destroyed in a fire and the insurance company pays $35.000 cash to see the loss claim Journal entry worksheet Record the sale of the used machine for $34.500 cash ype here to search ik Hequired information 3. Prepare journal entries to record the machine's disposal under each separate station (at is sold for $24.500 cash (b $98,000 cash and is destroyed in a fire and the insurance company pays $35,000 cash to settle the loss cam is sold for Journal entry worksheet 1 2 3 Record the sale of the used machine for $24,00 cash. Note de bone credits General Journal Debit Credit De cash ype here to search