At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a trailer. The shed initially cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2. The trailer cost $11,000 and was expected to last 4 years, with a residual value of $2,000. Compute year 2 straight-line depreciation expense for the shed and prepare the journal entry to record it. (If no entry is required or a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the year 2 straight-line depreciation expense for the shed. Note: Enter debits before credits. Record the year 2 depreciation expense for the machine. Note: Enter debits before credits. Compute years 1 and 2 double-declining-balance depreciation expense for the trailer. Record the year 2 depreciation expense for the trailer. Note: Enter debits before credits