Chapter 9 Homework Saved Help 5 At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. 10 points Machine A $10,400 Cost of the asset Installation costs Renovation costs prior to use Repaira after production began 3,500 $23,400 2,600 B00 700 3,100 1,000 3,600 2,100 eBook Print ReferencesBy 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 1, assuming the following: Reaidual Vala s years 20,000 hOurs 10 years $2, 400 2,000 1,900 preciation Method Straight-line Units-of-production Double-declining-balance Complete this question by entering your answers in the tabs below Required 1 Required 2 Compute the cost of each machine. 5 1. Compute the cost of each machine. 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: Estinates 10 points hine Life Residual Value Depreciation Method 5 years 20,000 hours 10 years 2,000 Straight-line 1,900 $2,400 Units-of-production Double-declining-balance eBook Print Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of each machine Machine A Machine B Machine C Requi Required 2 > Prex 5 of 10E Next > He 5 Required 1 Required 2 Prepare the journal entry to record depreclation 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.) 10 points View transaction list eBook Journal entry worksheet Print Record the dedreciation expense for the three used machines at the end of year 1 Note: Enter debits before credits Record entry Clear entry View general journal