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what am i missing? ! Required information [The following information applies to the questions displayed below.] Onslow Co. purchased a used machine for $192,000 cash

what am i missing?

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! Required information [The following information applies to the questions displayed below.] Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place. The machine will be used for six years and have a $23,040 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. 2. Prepare journal entries to record depreciation of the machine at December 31. X Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 Dec 31 Depreciation expense-Machinery 30, 160 X Accumulated depreciation-Machinery 30, 160 X 2 Dec 31 Depreciation expense-Machinery 30, 160 X Accumulated depreciation-Machinery 30, 160 X

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