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 $ 11,800 $36,300 1,400 1,800 3,400 1,300 Machine C $ 24,700 1,400 3,400 By the end of the first year, each machine had been operating 4,900 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 Life Depreciation Method Value 5 years $1,100 Straight-line 72,000 hours Units-of-production 10 years 2,900 Double-declining-balance A B C 3,400 View transaction list Journal entry worksheet 1 > Record the depreciation expense for year 1. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal