Onslow company purchased a used machine for $192,000 cash on January 2nd and January 3rd Onslow paid $6,000 to wire electricity to the machine and an additional $1,200 to secure it in place the machine will be used for 6 years and have a $23,040 salvage value straight-line depreciation is used on December 31st at the end of its fifth year and operations it is disposed of prepare journal entries to record depreciation of the machine at December 31st