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 Advantage, Inc. The machines Immediately were overhauled, Installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Amount paid for asset Installation costs Renovation costs prior to use Machine A $ 18,700 800 3,700 Machine B $ 33,200 2,300 2,700 Machine C $ 8,900 1,2ee 3,300 By the end of the first year, each machine had been operating 5,500 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 Value Depreciation Method 6 years $1,600 Straight-line 69, eee hours 3,700 Units-of-production 4 years 3, eee Double-declining-balance A B C View transaction list Journal entry worksheet