Turquoise Associates bought a machine at the beginning of the year at a cost of $41,000. The estimated useful life was five years and the residual value was $4,000. Required: 1. Complete a depreciation schedule for the straight-line method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the straight-line method. Balance Sheet Year Income Statement Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 2 3 4 5 Required 1 Required 2 > Required 1 Required 2 Prepare the journal entry to record Year 2 depreciation. (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 A > Record the adjusting entry for depreciation expense for Year 2. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal