Required information [The following information applies to the questions displayed below.] At the beginning of the year, Soldano,com bought machinery, shelving, and a forklift. The machinery initially cost $28,800 but had to be overhauled (at a cost of $1,840 ) before it could be installed (at a cost of $920 ) and finally put into use. The machinery's total life was estimated as 40,000 hours, with an estimated residual value of $1,000. The machinery was actually used 5,000 hours in year 1 and 7,000 hours in year 2 . Repair costs were $430 in each year. The shelving cost $9,700 and was expected to last 5 years, with a residual value of $680. The forklift cost $14,400 and was expected to last six years, with a residual value of $2,160. 4. Compute year 2 straight-ine depreciation expense for the shelving and give the journal entry to record it: Complete this question by entering your answers in the tabs below. Compute year 2 straight-line depreciation expense for the shelving. Required information Whe following information applies to the questions displayed below] At the beginning of the year, Soldano.com bought machinery, shelving, and a forklift. The machinery initialy cost $28,800 but had to be overhauled (at a cost of $1.840 ) before it could be installed (at a cost of $920 ) and finally put into use The machinery's total life was estimated as 40,000 hours, with an estimoted residual value of $1,000. The machinery was actually used 5,000 hours in year 1 and 7,000 hours in year 2 . Repair costs were $430 in each year The shelving cost $9700 and was expected to last 5 years. with a residual value of $680. The forklift cost $14.400 and was expected to last six years, with a residual value of $2.160 4. Compute year 2 straight-ine depreciation expense for the shelving and give the joumal entry to record it: Complete this question by entering your answers in the tabs below. Prepare the journal entry to record the year 2 straight-fine depreciation expense for the shelving. (If no entry is required for a transactionvevent, seloct "No lournal Entry Required" in the first account field.) Journal entry worksheet Record the year 2 straight-line depreciation expense for the shelving. foulei Enter defits before cridts