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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 $ 18,900 $ 31,500 1,700 2,500 3,600 1,300 Machine C $ 15,300 1,600 2,300 By the end of the first year, each machine had been operating 6,000 hours. P8-3 Part 2 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 A B ESTIMATES Residual Life Value 8 years $2,600 66,000 hours 2,300 6 years 2,700 Depreciation Method Straight-line Units-of-production Double-declining-balance WA Required information View transaction list X 1 Record the depreciation expense for year 1. > Credit Note: = journal entry has been entered Record entry Clear entry View general journal View transaction list Journal entry worksheet