E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3] Turquoise Associates bought a machine at the beginning of the year at a cost of $21,500. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the double-declining-balance 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 Prepare the journal entry to record Year 2 depreciation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet A Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal