Hawaiian Specialty Foods purchased equipment for $37,000. Residual value at the end of an estimated four-year service life is expected to be $3,250. The company expects the machine to operate for a total of 27,000 hours. The machine operated for 3,400 hours in the first year and 3,700 hours in the second year. View transaction list

wounce tromel: sand Enabled Exam 3 chapters 7.9 ( 3 On January t, Hawalian Speciary Foods purchased equipment for $37,000. Residual value at the end of an estimated four-year service and expected to be $3,250. The company expects the imachine to operate for a total of 27,000 hours. The machine operated for 3.400 hours in the first yeat and 3,700 hours in the second year Record depreciation expense for the first two years using the activity-bascd account fietd transaction/event, select "No Journal Entry Required" in the first account fletd.) Journal entry worksheet 2 Record the depredation expense for the first year using the activity-based inethod