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It does not let me do multiple entries for each individual machine. ! Required information (The following information applies to the questions displayed below.] At
It does not let me do multiple entries for each individual machine.
! Required information (The following information applies to the questions displayed below.] At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 23,800 $ 29,000 $ 8,800 1,300 2,100 700 2,600 2,900 2,100 By the end of the first year, each machine had been operating 6,300 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Machine B ESTIMATES Residual Life Value 7 years $1,100 63,000 hours 2,500 4 years 3,200 Depreciation Method Straight-line Units-of-production Double-declining-balance View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 1 3,800 Depreciation expense Accumulated depreciation 3,800Step by Step Solution
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