Reculred Information Problem 10-6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed beiow] Onslow Company purchased a used machine for $192,000 cash on January 2 . On January 3 , Onslow paid $10,000 to wire electricity to the machine. Onslow paid an additional $2,000 on January 4 to secure the machine for operation. 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. oblem 106A(Alg) Part 1 cquired: Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred Journal entry worksheet Record the purchase of a used machine for $192,000 cash. Nale: Enler debiss Defaie credis. Recqulred Informtation Problem 10-6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below] Onslow Company purchased a used machine for $192,000 cash on January 2 . On January 3 , Onslow paid $10,000 to wire electricity to the machine. Onslow paid an additional $2,000 on January 4 to secure the machine for operation. 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. oblem 10-6A (Algo) Part 1 quirec: Orepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred Journal entry worksheet Record the costs of $10,000 incurred on the used machine. Nale: Enler debisz befale creais. Rechulred Intormation Problem 10-6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following informaion applies to the questions displayed beiow] Onslow Company purchased a used machine for $192,000 cash on January 2 . On January 3 . Onslow paid $10,000 to wire electricity to the machine. Onslow paid an additional $2,000 on January 4 to secure the machine for operation. 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. roblem 10-6A (Algo) Part 1 equired: Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred. Journal entry worksheet Record the cost of $2,000 for an operating platform. Nale: Enler debis belaie ciedis