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.

Prepare the journal entry to record Year $2$ depreciation. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

A

Record the adjusting entry for depreciation expense for Year $2.$

Note: Enter debits before credits.

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