Chademy 1 At the beginning of the year Grillo Industries bought three used machines from Freeman incorporated. The machines inmediately were overhauled, were installed and started operating Because the machines were different each was recorded separately in the accounts Machi ch cost of the asset 538.100 $77,100 Installation costs 850 2.00 Renovation costs prior to wie 650 1.000 Kepairs after production began 700 00 100 356 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 ssuming the following stimates Machine Bestal va Depreciation Method 5 years Straight line 20.00 hours 2.300 its of production 10 years 1,500 Double declining balance $1.100 Complete this question by entering your answers in the tabs below. Red 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: If no antry is required for Sur ce 10 years 1,500 Double.ca Answer is not complete. Complete this question by entering your answers in the tabs below. 3.40:19 Required: Required 2 Prepare the journal 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. Do not round Intermediate calculations.) Debat Credit NO Transaction 1 1 1,900 16000 General Journal Depreciation Expense Accumulated Depreciation - Machine B Depreciation Expense Accumulated Depreciation - Machine B Depreciation Expense Accumulated Depreciation - Machine O 16,000 5.140 x X 5,140 X