2. Prepare the entry to record depreciation expense at the end of year 1, assuming the following. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) ESTIMATES Life Machine Residual Value Depreciation Method 9 years 73,000 hours 5 years $1,300 Straight-line 2,700 Units-of-production 3,000 Double e-declining View transaction list Journal entry worksheet Record the depreciation expense for year 1 Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal