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The following information applies to the questions displayed below

Accounting

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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. 2 of 2 Invoice price paid for asset Installation costs Renovation costs prior to use Machine A Machine B Machine C $ 11,000 $ 30,000 $ 8,600 500 1,000 500 2,500 1,000 1,500 By the end of the first year, each machine had been operating 4,800 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 5 years 51,000 Straight-line B 60,000 hours 2,080 Units-of-production 4 years 1,500 Double-declining-balance View transactions View journal entry worksheet T
By the end of the first year, each machine had been operating 4.800 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 A 5 years $1,000 Straight-Line 60,000 hours 2,000 Units-of-production ? 4 years 1,500 Double-declining-balance B View transaction list View journal entry worksheet X NO Transaction General Journal Credit Debit 24,200 1 1 Depreciation expense Accumulated depreciation Accumulated depreciation Accumulated depreciation 13,800 2,400 8,000