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Required information Problem 1 0 - 6 A ( Algo ) Disposal of plant assets LO C 1 , P 1 , P 2 [

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Required information
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 $8,000 to wire
electricity to the machine. Onslow paid an additional $1,600 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 2
. Prepare journal entries to record depreciation of the machine at December 31.
Journal entry worksheet
Record the first year year-end adjusting entry for the depreciation expense of
the used machine.
Note: Enter debits before credits.
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