9. Homework B Help At the beginning of the year. Young Company bought three used machines from Vince, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts Mount paid for at Tallation costs novation cost prior tone pain after production began Machine 3.500 200 3,300 300 Machine $27.400 500 1.500 530 Machine e $11, 100 500 1,300 775 By the end of the first year, each machine had been operating 8,000 hours Required: 1. Compute the cost of each machine 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: TIP: Remember that the formula for double-declining balance uses cost minus accumulated depreciation (not residual value): Machine 5 years 40.000 hours 6 years Readual Value Depreciation Method 400 Otraight-line 1.000 Units-of-production 1.800 Double-declining-balance c Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: TIP: Remember that the formula for double-declining balance uses cost minus accumulated depreciation (not residual value). (If no entry is required for a MacBook Air Required 1 Required 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following for double-declining-balance uses cost minus accumulated depreciation (not residual value). (If no en transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermed oints -Book View transaction list Hrenonces Journal entry worksheet 1 Record the depreciation expense for the three used machines at the end of year 1. Note: Enter debits before credits Transaction 1 Debit Credit General Journal Depreciation Expense Accumulated Depreciation - Machine A Accumulated Depreciation - Machine B Accumulated Depreciation - Machine C Record entry Clear entry View general journal MacBook Air