Three prong dryer cord hook up, your answer
Pull the old cable out through the connector and save it in case you ever move into a home with a 3 hole socket. It does not go on the terminal board where the white wire is, but to the frame.
Presuming that your house was not built before the mid 60's you can change the receptacle to a four wire.
How do I wire it now? In most instances the green wire connection will be painted green for easy recognition.
Use the four prong cord if you can. Also if you remove the plate over the electrical connections on the back of the dryer, there would be a metal bonding strip going from the middle wire of these old cords to the frame of the dryer.
How do you convert a 4 prong V outlet to a 3 prong V outlet for a dryer?
From the center wire terminal you will see a jumper strap that goes to the frame of the dryer. Red and black are hot, the white is neutral, and green is ground.
There is a green wire coming out of the back of the unit. What should be done is to change the three blade receptacle to a four blade receptacle.
If it's V or V then ordinary house then it plugs into a normal outlet.
A lot of those range circuits were updated - many years ago - to the many 3-prong plugs and sockets you still see today, which have now been superceded by the present 4-prong plug and socket outlet which is specified in the NEC.
However, the NEC specifically makes an exception for ovens and dryers: Install the new outlet in a box behind your oven. Installing the New 4 Prong Cord First, make sure that you have the right new cord.
Then you must connect the frame of the new range either to the existing separate ground wire, if there is one - it is either green-sheathed or bare copper - orif there is no existing separate ground wire, you must ensure that the frame of the new range is connected to the neutral line by using an internal frame-to-neutral tie strap.
Such an old-fashioned range circuit really needs to be upgraded all the way from the breaker box: