! Required information The following information applies to the questions displayed below) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation The machines immediately were overhauled, installed, and started operating. The machines were different, therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 13,900 $34,400 $14,500 2,400 2,600 900 2,700 1.700 2,100 By the end of the first year, each machine had been operating 5,200 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ESTIMATES Residual Machine Value Depreciation Method 6 years $1,600 Straight-line B 73,000 hours 2,200 Units-of-production 5 years 1,600 Double-declining-balance Life Answer is complete but not entirely correct. Debit Credit No Transaction General Journal 2. Prepare the entry to record depreciation expense at the end of Year tossuming the followige (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ESTIMATES Residual Life Value Depreciation Method 6 years $1,600 Straight-line 73,000 hours 2,200 Units-of-production 5 years 1,600 Double-declining balance Machine 8 No Transaction Debit Credit Answer is complete but not entirely correct. General Journal Depreciation expense Accumulated depreciation 1 1 57.276 3 57,276 BE Nayt