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 Machine Machine B $33,400 $35,200 $15,850 1,000 1,700 1,800 3,500 1,600 3,000 By the end of the first year, each machine had been operating 5,600 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 Depreciation Method Life Value 9 years $1,000 Straight-line 70,000 3,500 Units-of- hours production Double-declining- 7 years 3,100 balance B View transaction list Journal entry worksheet Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal