00 8 Mittal Companies bought a machine at the beginning of the year at a cost of $35,000. The estimated useful life was five years and the residual value was $3,500. 0.6 points Required: 1. Complete a depreciation schedule for the straight-line method. 2. Prepare the journal entry to record Year 2 depreciation. eBook Complete this question by entering your answers in the tabs below. Hint Required 1 Required 2 Print Complete a depreciation schedule for the straight-line method. References Balance Sheet Year Income Statement Depreciation Cost Expense Accumulated Depreciation Book Value At acquisition 1 2 3 4 5