Prepare the journal entry with the information provided.

At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed. and started operating Because the machines were different, each was recorded separately in the accounts Machine Machine E Machine C $ 9.300 $38.500 $22.300 Cost of the asset Installation costs Renovation costs prior to use Repairs after production began 9502.4001.500 750 2,000 2.500 800 900 1.000 By the end of the first year, each machine had been operating 8.000 hours Required: 1. Compute the cost of each machine ost o Machine A 11,000 B 42900 $26.300 Prepare the journal entry to record depreciation expense at the end of journal 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. Do not round intermediate calculations.) Estimates Machine Residual ValueDepreciation Method 5 years 20,000 hours 10 years $1,300 900 1,700 Straight-line Units-of-production Double-declining-balance