Raine Industries bought a machine at the beginning of the year at a cost of $$32,000.$ The estimated useful life was five years and the residual value was $$4,000.$

Required:

Complete a depreciation schedule for the straight$-$line method.

Prepare the journal entry to record Year $2$ depreciation.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Complete a depreciation schedule for the straight$-$line method.

$\backslash$table$[[$Year$,\backslash$table$[[$Income$],[$Statement$]],$Balance Sheet$],[\backslash$table$[[$Depreciation$],[$Expense$]],$Cost,$\backslash$table$[[$Accumulated$],[$Depreciation$]],$Book Value$],[$At acquisition,,,,$],[1,,,,],[2,,,,],[3,,,,],[4,,,,],[5,,,,]]$