Required information [The following information applies to the questions displayed below) At the beginning of the year, Algernon Companies 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 Renovation costs prior to use Repairs ofter production began Installation costs 59,200 020 660 550 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.) View transaction list . 29 Nay Required information Journal entry worksheet Record the year 2 depreciation expense for Machine A. Note: Enter debits before credits Transaction General Journal Debit Credit Record Cuar entry Viewer