Onio CA S e d a used marine for $240.000 y 2 Only 3. now aid $10,000 o wie cicctricity to the machine and an additional $2.000 10 Curtis place. The machine will be used for six years and have a 528.800 salge value Sagsnede n ied on December 31th end of year in opetel is disposedot sold for 3. Preperc joumal tries to record the machine's dispose under och sepertitution s sold for $23.500 cash: $94.000 cast, and (ili dested in a fe and the face company Days $34000 calore the claim View bransonst 1 Record the sale of the used machine for $22.500 cash 2 Record the sale of the machine for 104.000 ch 8 Record the insurance settlement received of $30.000 resulting from the total destruction of the machine in a Note: Sournal entry has been artered Centry Required information [The following information applies to the questions displayed below. Onslow Co. purchased a used machine for $240,000 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 $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. 3. Prepare journal entries to record the machine's disposal under each separate situation: (a) it is sold for $23,500 cash; (b) it is sold for $94.000 cash; and (c) it is destroyed in a fire and the insurance company pays $34,000 cash to settle the loss claim. View transaction list 1 Record the sale of the used machine for $23,500 cash. Record the sale of the used machine for $94,000 cal Record the insurance settlement received of $34,000 resulting from the total destruction of the machine in a fire. redit Note : - Journal entry has been entered Record entry Clear entry View general journal