Required information [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 $6,000 to wire electricity to the machine. Onslow paid an additional $1,200 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. Required: 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use Cash is paid for all costs incurred, View transaction llat Journal entry worksheet Record the cost of $1,200 for an operating platform. Note: Enter debits before credits. Date General Journal Debit Credit January 04 Record entry Clear entry View general Journal