Prepare the journal entry to record depreciation expense at the end of year one. Info listed in first picture. The 2nd picture lists the correct cost of each machine. Show all work. Thanks.

PA9-1 2, LO 9-3 Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9- At the beginning of the year, Gritlo Industries bought three used machines from Free were overhauled, were installed, and started operating Because the machines were d accounts man hcorporated. The machines immedistely tterent, each was recorded separately in the 9,00 38,280 Imstallation costs Renovation costs prior to use Repates after production beg By the end of the first year each machine had been operating 8,000 hours Required: 1. Compute the cost of each machine 2 Prepare the journal entry to record depreciation expense at the end of yeat 1, assuming the folowing Estinetes Rachine Resiouel Valve Depreciation Method Straig-1ine Units of preduction tooble declining balance 1e years