8 12 of 21 nts Required information [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 Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Machine Machine Machine A B Book Invoice price paid for asset Installation costs $11,000 $30,000 $8,000 500 1,000 500 Renovation costs prior to Print 2,500 1,000 1,500 use eference By the end of the first year, each machine had been operating 4,800 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ESTIMATES Life Residual Value Depreciation Method 5 years $1,000 Straight-line 60,000 Machine A B C 4 years 1,500 Double-declining- balance hours 2,000 Units-of-production View transaction list Journal entry worksheet < 1 Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry View general journal Clear entry