pter 8 Hw 4 0 Required information Problem 8-6A Disposal of plant assets LO C1, P1, P2 The following information applies to the questions displayed below Onslow Co purchases a used machine for $288.000 cash on January 2 and readies it for use the next day at a $8.000 cost On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations The company predicts the machine wil be used for six years and have a $34,560 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of Problem 8-6A Part 3 3. Prepare journal entries to record the machine's disposal under each of the following separate assumptions erences 1 Record the sale of the used machine for S23.000 cash 2 Record the sale of the used machine for $92.000 cash 3 Record the insurance settlement received of $33,500 resulting from the total destruction of the machine in a fire Journal entry worksheet Record the sale of the used machine for $23.000 cash Pre4 of S Next > ateway Problem 8-6A Part3 rate assu 3. Prepare journal entries to record the machine's disposal under each of the following sepa 1 Record the sale of the used machine for $23,000 cash. 2 Record the sale of the used machine for $92,000 cash. 3. Record the insurance settlement received of $33,500 resulting from the total destruction of the View transaction list Journal entry worksheet Record the sale of the used machine for $92,000 cash. Note: Enter debits before credits. Date Debit Credit Dec. 31 Record entry Clear entry View general journal Prev ere to search 3. Prepare journal entries to record the machine's disposal under each of the following separate assu 1. Record the sale of the used machine for $23,000 cash. 2 Record the sale of the used machine for $92,000 cash. 3 Record the insurance settlement received of $33,500 resulting from the total destruction of the View transaction list Journal entry worksheet Record the insurance settlement received of $33,500 resulting from the total destruction of the machine in a fire. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal