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Required information Skip to question [The following information applies to the questions displayed below.] At the beginning of the year, Cruz & Turner Corporation bought

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[The following information applies to the questions displayed below.]

At the beginning of the year, Cruz & Turner Corporation bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below.

Cost of the asset $9,900
Installation costs 890
Renovation costs prior to use 870
Repairs after production began 690

3. Prepare the journal entry to record year 2 straight-line depreciation expense for Machine A, assuming an estimated life of 4 years and $1,000 residual value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

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