EXERCISE 9-2 Bidwell Co. uses the nts-of-production method for computing the depreciation on its machines. One machine, which cost $88,000, is estimated to have a useful life of 22,000 hours and no residual value. During the first year of operation, this machin was used a total of 5,200 hours. Record the depreciation of this machine on December 31, the end of the first year. (Omit explanation.) JOURNAL PAGE POST REF DATE DESCRIPTION DEBIT CREDIT 10 10