Question: Journal entry worksheet 2 Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. Date

Journal entry worksheet 2 Record the first year year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Journal entry worksheet 2 Record the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 [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. Problem 8-6A (Algo) Part 2 2. Prepare journal entries to record depreciation of the machine at December 31

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