explain in detail.

Raine Industries bought a machine at the beginning of the year at a cost of $32,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 15,000 units. Expected annual production was year 1,3,000 units year 2.4,000 units; year 3, 3.000 units; year 4, 3,000 units; and year 5, 2,000 units. Required: 1. Complete a depreciation schedule for the units-of-production 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 units of production method. (Do not found intermediate calculations, Round final answers to the nearest whole dollars.) Income Statement Balance Sheet Year Depreciation Cont Accumulated Expense Depreciation Book Value At acquisition 1 2 3 4 5 Required 1 Required 2 Prepare the journal entry to record Year 2 depreciation. (If no entry is required for a transaction/event, selec Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal