At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine A $ 9,840 1,520 520 420 Machine B $30,860 2,020 1,320 320 Machine C $21,200 720 1,520 620 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.) Estimates Machine Life A B 4 years 32,200 hours 5 years Residual Value $1,000 2,000 1,400 Depreciation Method Straight-line Units-of-production Double-declining-balance View transaction list Journal entry worksheet Record the entry for depreciation expense at the end of year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry Vlew general Journal