At the beginning of the year, Plummers Sports Center bought three used fitness machines from Advantage, Inc. 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
Amount paid for asset	$	11,000	$	30,000	$	8,000
Installation costs		500		1,000		500
Renovation costs prior to use		2,500		1,000		1,500

By the end of the first year, each machine had been operating 4,800 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		5 years	$1,000		Straight-line
B		60,000 hours	2,000		Units-of-production
C		4 years	1,500		Double-declining-balance