ANSWER PLEASE

At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began Machine A Machine B Machine C $21,600 $12,100 $11,800 1,300 700 600 1,100 400 1,100 620 2,900 980 By the end of the first year, each machine had been operating 4,000 hours. Required: 1. Compute the cost of each machine. Cost of Machine Machine A Machine B Machine C 2. Prepare the journal 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. Do not round intermediate calculations.) Machine ABC Estimates Life 5 years 20,000 hours Residual Value $1,900 1,800 10 years 1,800 Depreciation Method Straight-line Units-of-production Double declining balance View transaction list Journal entry worksheet Record the depreciation expense for the three used machines at the end of year 1 assuming each machine has its own accumulated depreciation account. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit