Required:

Compute the cost of each machine. Prepare the entry to record depreciation expense at the end of Year $1,$ assuming the following.

Note: Do not round intermediate calculations. If no entry is required for a transaction$/$event$,$ select $"$No journal entry

required" in the first account field.P$8-3($Algo$)$ Computing the Acquisition Cost and Recording Depreciation under Three

Alternative Methods L$08-2,8-3$

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At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Primo Fitness,

an established supplier of used, new and refurbished gym equipment in Southern California. The machines

immediately were overhauled and started operating. The machines were different; therefore, each had to be

recorded separately in the accounts.

By the end of the first year, each machine had been operating $5,900$ hours.