[The following information applies to the questions displayed bolow] Onslow Company purchased a used machine for $192,000 cash on January 2. On January 3 , Onslow paid $10,000 to wire electricity to the machine. Onslow paid an additional \$2,000 on January 4 to secure the machine for operation. The machine wil be used for six years and have a $23,040 salvage value. Straight-fine depreciation is used. On December 31 , at the end of its sith year in operations, it is disposed of Required: 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred. Journal entry worksheet Record the purchase of a used machine for $192,000 cash. Note: Enter debts betsin cotits