Saved Help Save CH 4. Problem 10-6A Disposal of plant assets LO C1, P1, P2 [The following information applies to the questions displayed below! Onslow Co purchases a used machine for $192,000 cash on January 2 and readies it for use the next day at a $10,000 cost. On January 3, it is installed on a required operating platform costing $2,000, and it is further readied for operations The company predicts the machine will be used for six years and have a $23,040 salvage value Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of 3 of 3 95 Ints Problem 10-6A Part 3 BOOK Print 3. Prepare Journal entries to record the machine's disposal under each of the following separate assumptions 1. Record the sale of the used machine for $25,000 cash 2. Record the sale of the used machine for $100,000 cash 3. Record the insurance settlement received of $35,500 resulting from the total destruction of the machine in a fire. View transaction Mist Journal entry worksheet 2 3 Record the sale of the used machine for $100,000 cash MC Prey 4 of 4 Next