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why is this wrong??? Required information (The following information applies to the questions displayed below.) Onslow Co. purchased a used machine for $192,000 cash on

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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 $10,000 to wire electricity to the machine and an additional $2,000 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. No Date Answer is not complete. General Journal Depletion expense Accumulated depreciation-Machinery Credit Debit 30,160 Dec 31 30,160 Dec 31 Accumulated depreciation Machinery Loss on sale of machinery Machinery 150.800 53,200 204,000 X

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