! 4 Part 4 of 6 0.5/1 points awarded Scored Required information PB9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below] At the beginning of the year, Periwinkle Manufacturing bought a shed, a machine, and a trailer. The shed initially cost $19,700 but had to be renovated at a cost of $420. The shed was expected to last 7 years, with a residual value of $1,150. Repairs costing $240 were incurred at the end of the first year of use. The machine cost $10,950, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2. The trailer cost $10,700 and was expected to last 4 years, with a residual value of $2,000. PB9-1 (Algo) Part 4 4. Prepare the journal entry to record year 2 units-of-production depreciation expense for the machine. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No A Transaction General Journal Debit Credit 1 Depreciation Expense 1,644X Accumulated Depreciation, Machine 1,644X