On January 1, 2021, a company purchased machinery costing $70,000. The estimated useful life is 5 years, and the salvage value of the asset is expected to be $10,000. The machinery was used for 2,000 hours in Year 1, 2,010 hours in Year 2, 2,050 hours in Year 3, 2,045 hours in Year 4, and 1,010 from January 1 - June 30 of the fifth year.The depreciation rate is $7.50 per hour.

Using the above information and the Units of Production Method:

1) Provide the journal entry to record the depreciation expense for Year1

(show work for calculation of amount)

2) Provide the journal entry to record the depreciation expense for Year2

(show work for calculation of amount)

3) Provide the journal entry to record the depreciation expense for Year3(show work for calculation of amount)