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Required information Answer is not complete. Problem 8 - 6 A ( Static ) Disposal of plant assets LO C 1 , P 1 ,

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Required information Answer is not complete.
Problem 8-6A (Static) Disposal of plant assets LO C1, P1, P2
[The following information applies to the questions displayed below.]
Onslow Company purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire
electricity to the machine. Onslow paid an additional $1,160 on January 4 to secure the machine for operation. The
machine will be used for six years and have a $14,000 salvage value. Straight-fine depreciation is used. On December 31,
at the end of its fifth year in operations, it is disposed of.
Problem 8-6A (Static) Part 3
Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $15,000 cash and (b) it is sold
for $50,000 cash.
Answer is not complete.
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