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Help 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 $192,000 cash on January 2. On January 3, Onslow pald $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 $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 1 Required: 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred View transaction lit Journal entry worksheet 1 2 3 Record the purchase of a used machine for $192,000 cash. Hot Enver det ene credits Required information View transaction list Journal entry worksheet 1 2 3 Record the purchase of a used machine for $192,000 cash. Note: Enter debits before credits General Journal Date January 02 Debit Credit ces Clear entry View general Journal ME GES View transaction list Journal entry worksheet Record the cost of $1,600 for an operating platform. Note: Enter debits before credits Date January 04 General Journal Debit Credit Becord Cier entry View general Journal ME GEN Na