2. Prepare the entry to record depreciation expense at the end of your assuming the following a no entry is required for a transaction/event, select "No journal entry required in the first account field.) ESTIMATES Machine Ufe 9 years 73.000 hours Residual Value $2,000 3.400 2.300 Depreciation Method Straight line Units of production Double-declining balance 8 years View transaction list Journal entry worksheet Record the depreciation expense for year 1. Note: Enter debits before credits Transaction Debit General Journal Depreciation expense Accumulated depreciation Machine A Accumulated depreciation Machine B Accumulated depreciation. Machine C View general Journal Record entry Clear entry [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Advantage Inc. The machines immediately were overhauled, installed, and started operating. The machines were different, therefore, each had to be recorded separately in the accounts Amount paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 25,800 $36,300 $16,200 1,300 1,600 1,800 2.800 2,000 2.000 3,200 By the end of the first year, each machine had been operating 5,500 hours. value: 1.65 points Required: 1. Compute the cost of each machine. Machine A Machine B Machine C Total Cost $ 29,900 $ 39,900 $ 21,200