Question: just need help on this part Required information Problem 8-6A (Algo) Disposal of plant assets LO C1, P1, P2 [The following information applies to the

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 $144,000 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 wil be used for six years and have a $17,280 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) Port 3 3. Prepare jocimal entries to record the machine's disposal under each separate situation: (C) it is sold for $24,000 cash and (b) it is sold for $96,000cash. 3. Prepare journal entries to record the machine's disposal under each separate situation. (a) it is sold for $24,000 cash and (b) it is sold for $96,000 cash. Journal entry worksheet Record the sale of the used machine for $24,000 cash. Note: Enter debits before credits
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