This has 3 parts

Journal entry worksheet Record the purchase of a used machine for $288,000 cash. Note: Enter debits before credits. 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $20,500 cash and (b) it is sold for $82,000 cash. Journal entry worksheet 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $20,500 cash and (b) it is sold for $82,000 cash. Journal entry worksheet 2 Record the sale of the used machine for $20,500 cash. Note: Enter debits before credits. Journal entry worksheet Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. Journal entry worksheet Record the cost of $1,600 for an operating platform. Note: Enter debits before credits. 2. Prepare journal entries to record depreciation of the machine at December 31. Journal entry worksheet 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 (Algo) Disposal of plant assets LO C1, P1, P2 [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. Problem 8-6A (Algo) Part 1 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 costs of $8,000 incurred on the used machine. Note: Enter debits before credits