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. Machine A Machine B Machine Cost of the asset $10,060 $31,740 $22,300 Installation costs 1.630 2,130 830 Renovation costs prior to use 630 1,430 1,630 Repairs after production began 530 430 730 By the end of the first year, each machine had been operating 7,300 hours. Required: 1-a. Compute the cost of each machine. Machine Total Total cost 1-6. Which of the following should be capitalized? (Select all that apply.) Renovation costs Installation couts Purchase costs Repair cost Depreciation costs 2. Prepare the journal entry to record depreciation expense at the end of year 1 assuming the following: Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) Estimates Residual Life Value Machine Depreciation Method Purchase costs Repair cost Depreciation costs ODO 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.) Machine Estimates Life Residual Value 4 years $1,000 33,360 hours 2.000 5 years 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 General Journal Dat Credit Transaction 1 Record entry Clear entry View general awal