I have just purchased a Kenmore sewing machine model 120-40 it is also in a cabinet with a knee powered pressure foot. Any information on this machine would be greatly appreciated. Thanks.

Would I be correct that you don't have an instruction manual for it? If so, then there are instruction manuals available from the following site. Kenmore Sewing Machine Instruction Manuals Unfortunately, you have to pay for the information. Here is the link for the manuals concerning the 120 models. Kenmore 120 source manuals