prepare the journal entry to record year 2 straight-line depreciation expense for machine A

Required information [The following information applies to the questions displayed below.] At the beginning of the year, Algernon Companies bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. 3. Prepare the journal entry to record year 2 straight-line depreciation expense for Machine A, assuming an estimated life of 4 years and $1,000 residtal value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)