In January 1, Hawaiian Specialty Foods purchased equipment for $45,000. Residual value at the end of an estimated four-year service fe is expected to be $3,000. The machine operated for 3,250 hours in the first year, and the company expects the machine to perate for a total of 35,000 hours. lecord depreciation expense for each of the first two years using the straight-line method. (If no entry is required for a particular ransaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the depreciation expense for the first year using the straight-line method. Note: Enter debits before credits