7. Prepare the journal entry to record year 2 double-declining balance depreciation expense for Machine C, which has a cost of $26,800, an estimated life of 10 years, and $1,400 residual value. (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 Machine C. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal 7. Prepare the journal entry to record year 2 double-declining balance depreciation expense for Machine C, which has a cost of $26,800, an estimated life of 10 years, and $1,400 residual value. (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 Machine C. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal