The records of Luci Company reflected the following details for Machine A at December 31, 2021, the end of the company's fiscal year: Cost when acquired $35, 600 Accumulated depreciation 18, 900 During January 2022, the machine was renovated at a cost of $12,100. As a result, the estimated life increased from five years to eight years and the residual value increased from $4,100 to $6,200. The company uses straight-line depreciation. Required: 1. Prepare the journal entry to record the renovation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record renovation of machinery Note: Enter debits before credits. Transaction General Journal Debit Credit2. How old was the machine at the end of 2021? Age of Machine A years 3. Prepare the adjusting entry at the end of 2022 to record straight-line depreciation for the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record depreciation expense. Note: Enter debits before credits. Transaction General Journal Debit Credit 1