Required informstion Problem 8.6A Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed befow] Onslow Co. purchased a used machine for $288,000 cash on January 2 On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1,600 to secure it in place. The machine will be used for six years and have a $34,560 salvage value. Straight-ine depreciation is used On December 31 , at the end of its fifth year in operations, it is disposed of Problem 8-6A Part 2 2. Prepare journal entries to record depreciation of the machine at December 31 Journal entry worksheet 2 Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note, Enter debits before credits. Required information Problem 8-6A Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below] Onslow Co, purchased a used machine for $288,000 cash on January 2 . On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1,600 to secure it in place. 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 Problem 8.6A Part 2 2. Prepare journal entries to record depreciation of the machine at December 31. Journal entry worksheet Record the yoar of disposal year-end adjusting entry for the depreciation expense of the used machine. Noter Einter debits befare creitits