At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts Cost of the asset Installation conta Renovation costs prior to use Repairs after production began Machine A $9,000 800 600 500 Machines $38,200 2,100 1,700 600 Machine C $22,000 1,200 2,200 700 By the end of the first year, each machine had been operating 8,000 hours Required: 1. Compute the cost of each machine. 2. Prepare the Journal entry to record depreciation expense at the end of year 1, assuming the following: Estimates Machine Lite Residual value Depreciation Method 4 years $1,000 Straight-line 30,000 hours 4.500 Units-of-production 10 years 1,400 Double-declining-balance B Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of each machine Couto Machine Machine Machine B Machine Required 1 Required 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate cal View transaction list Journal entry worksheet Record the depreciation expense for the three used machines at the end of year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal