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 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. Invoice price paid for asset Shipping costs (paid by Plummer) Renovation costs prior to use Machine A Machine 8 Machine C $21,700 $32,900 $8,100 800 3,400 1,100 1,300 1,000 2,300 By the end of the first year, each machine had been operating 5,900 hours. 2. 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. ESTIMATES Machine B Life 8 years 65,000 hours Residual Value $2,700 2,800 C 4 years 2,900 View transaction list Depreciation Method Straight-Line Units-of-production Double-declining- balance