[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 $ 13,500 Machine B Machine C 900 4,200 $ 37,700 2,000 2,500 $ 12,450 600 3,200 By the end of the first year, each machine had been operating 5,500 hours. 3 Part 2 repare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a saction/event, select "No journal entry required" in the first account field.) ESTIMATES Life hive Residual Value Depreciation Method a 5 years $1,600. Straight-line B 79,000 hours 2,700 Units-of-production C 5 years 1,500 Double-declining-balance Required information 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 Machine A Life Residual Value Depreciation Method B 5 years 79,000 hours $1,600 2,700 Straight-line C 5 years 1,500 Units-of-production Double-declining-balance View transaction list Journal entry worksheet < 1 Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry