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 $ 9,9ee 1,550 550 450 Machine B $31, 10e 2,050 1,350 350 Machine C $21, see 750 1,550 650 By the end of the first year, each machine had been operating 6,500 hours. 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entr transaction/event, select "No Journal entry required" In the first account field.) Required: 1-a. Compute the cost of each machine. Estimates Machine Life Depreciation Method Machine B Total Total cost Residual Value $1,eee 2, eee 1,408 A B 0 4 years 32,500 hours 5 years Straight-line Units-of-production Double-declining-balance View transaction list Journal entry worksheet 1-b. Which of the following should be capitalized? (Select all that apply.) Record the entry for depreciation expense at the end of year 1. Renovation costs Installation costs Purchase costs Repair cost Depreciation costs Note: Enter debits before credits. General Journal Debit Credit Transaction 1