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 pald $8,000 to wire electricity to the machine. Onslow pald 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-IIne depreclation is used. On December 31 , at the end of its fifth year in operations, it is disposed of. 3. Prepare journal entrles to record the machine's disposal under each separate situation: (d) it is sold for $22,500 cash and (b) it is sold for $90,000 cash. Montana Mining Company pays $3,112,690 for an ore deposit containing 1,440,000 tons. The company Installs machinery in the mine costing $246,700. Both the ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 163,100 tons of during the year. Prepare the December 31 year-end entrles to record both the ore deposit depletion and the minIng machinery depreciation. MinIng machinery depreclation should be in proportion to the mine's depletion. (Do not round Intermedlate calculations. Round your final answers to the nearest whole number.)