4 Part 4 of 6 10 points Required information P89-1 (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, Feliz industries bought a shed, a machine, and a trailer The shed initially cost $21200 but had to be renovated at a cost of $720. The shed was expected to last 7 years, with a residual value of $1,900. Repairs costing $540 were incurred at the end of the first year of use. The machine cost $11700, 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 $12.200 and was expected to last 4 years, with a residual value of $2.000, ook P PB9-1 (Algo) Part 4 16 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.) View transaction list Journal entry worksheet Record the year 2 depreciation expense for the machine. Int Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal