Required information Problem 8-6A (Static) Disposal of plant assets LO C1, P1, P2 The following information applies to the questions displayed below) Onslow Co purchased a used machine for $178,000 cash on January 2. On January 3. Onslow paid $2,840 to wire electricity to the machine and an additional S1,860 to secure it in place The machine will be used for six years and have a $14.000 salvage value Straightline depreciation is used. On December 31, at the end of its fifth year in operations. It is disposedot Problem 8-6A (Static) Part 3 3. Prepare journal entries to record the machine's disposat under each separate situation is sold for $15,000 cash and to it is sold for $50.000 cash