explain in detail

Help Homework 0 8 Part 2 Required information The following information applies to the questions displayed below! At the beginning of the year, Starr Systems bought a shed, a machine, and a trailer The shed initially cost $20.600 but had to be renovated at a cost of $600. The shed was expected to last 7 years, with a residual value of $4600 Repairs costing $420 were incurred at the end of the first year of use The machine cost $11400, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year and 4.000 hours in year 2 The trailer cost $11600 and was expected to last 4 years with a residual value of $2.000. 2 ces 2. Compute year 2 straight line depreciation expense for the shed and prepare the journal entry to record it if no entry is required for a transaction/event, select "No Journal Entry Requ in the first account field.) View transaction Journal entry worksheet > Record the year 2 straight line depreciation expense for the shed