Question: can someone help me please? Required information Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 The following information applies to the questions
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 $240,000 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 $28,800 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 2 2. Prepare journal entries to record depreciation of the machine at December 31 No Date Answer is not complete. General Journal Depreciation expense-Machinery Accumulated depreciation - Machinery Credit 1 Debit 36.800 December 31 > 36.800 2 December 31 Accumulated depreciation --Machinery Loss on sale of machinery Machinery @ @ @
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