At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts.

	Machine A		Machine B		Machine C
Invoice price paid for asset	$	30,700	$	30,300	$	24,500
Installation costs		1,300		2,000		1,500
Renovation costs prior to use		3,700		2,800		2,800

By the end of the first year, each machine had been operating 6,600 hours.

2. Prepare the 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	Residual Value		Depreciation Method
A		9 years	$2,400		Straight-line
B		63,000 hours	3,600		Units-of-production
C		9 years	1,500		Double-declining-balance

The journal entries I have listed are incorrect

At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 30,700 $ 30,300 $ 24,500 1,300 2,000 1,500 3,700 2,800 2,800 By the end of the first year, each machine had been operating 6,600 hours. 2. Prepare the 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 A ESTIMATES Residual Life Value 9 years $2,400 63,000 hours 3,600 9 years 1,500 Depreciation Method Straight-line Units-of-production Double-declining-balance B Journal entry worksheet 1 Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Accumulated depreciation Depreciation expense