On January 1. Hiawalian Specialty Foods purchased equipment for $31,000. Residuat value at the end of an estimated four year service life is expected to be $5,800. The company expects the machine to operate for a total of 21,000 hours. The machine operated for 3.110 hours in the first year and 3,410 hours in the second year Record depreciation expense for the first two years using the actlvity-based method. (If no entry is required for a porzicular tronsaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 2 Record the depreciation expense for the first year using the activity-based method. Note: Enter debits before credits. Record the depreciation expense for the second year using the activity-based method. Note: Enter debits before credits