E9-6 (Algo) Computing and Recording Straight-Line Depreciation [LO 9-3] Mittal Companies bought a machine at the beginning of the year at a cost of $27,000. The estimated useful life was five years and the residual value was $2,500. Required: 1. Complete a depreciation schedule for the straight line method 2. Prepare the journal entry to record Year 2 depreciation Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the straight-line method. Year Income Statement Depreciation Expense Balance Sheet Accumulated Depreciation Cou Book Value At acquisition 1 2 3 4 5 Required 2 >