Required information [The following information applies to the questions displayed below.] Onslow Company purchased a used machine for $288,000 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 $34,560 salvage value. Straight-line depreciation is used. On December 31 , at the end of its fifth year in operations, it is disposed of. 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $25,000 cash and (b) it is sold for $100,000 cash. JUUIIIdIEILI VVUI KIIEEL Record the sale of the used machine for $25,000 cash. Note: Enter debits before credits. JuuIIIdi eilly y wuinst Record the sale of the used machine for $100,000 cash. Note: Enter debits before credits