Figaro Production bought a machine at the beginning of the year at a cost of $29,000. The estimated useful life was five years and the residual value was $3,500. 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. Income Statement Balance Sheet Year Depreciation Expense Accumulated Cost Book Value Depreciation At acquisition 1 5 2 3 4 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 View general journal Record entry Clear entry