Raine Industries bought a machine at the beginning of the year at a cost of $24,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 11,000 units. Expected annual production was year 1, 2,200 units; year 2, 3,200 units; year 3, 2,200 units; year 4, 2,200 units; and year 5, 1,200 units.

Required:

1. Complete a depreciation schedule for the units-of-production method.
2. Prepare the journal entry to record Year 2 depreciation.

Required 1 Required 2 Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round fin answers to the nearest whole dollars.) Balance Sheet Year Income Statement Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Journal entry worksheet > Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits. General Journal Debit Credit Transaction 1