At the beginning of the year, Ramos Incorporated bought three used machines from Santaro Corporation. The machines immediately were overhauled and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Machine AMachine BMachine CInvoice price of the asset$$14,100$$$34,400$$$23,600$Shipping costs$2,5503,0003,000$Renovation costs prior to use$1,5502,3503,500$By the end of the first year, each machine had been operating $16,500$ hours$\mathrm{.}2.$ Prepare the entry to record depreciation expense at the end of Year $1($with separate accumulated depreciation accounts for each machine$),$ assuming the following:Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.ESTIMATESMachineLifeResidual ValueDepreciation MethodA$5$ years$$2,900$Straight$-$lineB$34,900$ hours$3,900$Units$-$of$-$productionC$4$ years$3,300$Double$-$declining$-$balance!

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At the beginning of the year, Ramos Incorporated bought three used machines from Santaro Corporation. The machines immediately were overhauled and started operating. The machines were different; therefore, each had to be recorded separately in the accounts.

$\backslash$table$[[,$Machine A$,$Machine B Machine C$,],[$Invoice price of the asset,$$14,100,$$$34,400,$$$23,600$