Required Informotion [The following informetion applies to the questions displayed below] Onslow Compeny purchased a used machine for $144,000 cash on January 2 On January 3, Onslow paid $8,000 to whe electicity 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 $17,280 salvage value. Straight-line depreciation is used. On December 31 , at the end of its fith year In operations, it is disposed of Prepare jouma entries to record the machine's disposal under each separate situation: (o) it is sold for $24,500 cash and (b) it is sid for $93000cash Journal entry worksheet 2 Ancard the sale of the vied machine for 524,500 cash Required Informatlon [The following information applies to the queshons disaldyed below.] Onslow Company parchased a used machine for $144,000 cash on January 2 On January 3. Onslow paid $8,000 to Wre 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 slx years and have a $17,280 salvage value. Straighn-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of 3. Prepare joumal entries to record the machine's disposal under each separate situation (d) it is sold for $24,500 cash and (b) it is cold for 598,000 cash. Journal entry worksheet Record the sale of the used machine for sph, obo cash. Noker rider denits betere oresta