0.00 10 o 10 Required information CP9-1 (Static) Computing Acquisition Cost and Recording Depreciation under Three Aerative Methods [LO 92, LO 93] The following information apples to the questions dipityed belo At the beginning of the year Young Company bought machinery, shelving and a fut. The nacherry y c $25.600 but had to be overhauled at a cost of $1200 before e could b use. The machinery's total ife was estimated as 40,000 hours, with a was actually used 5.000 hours in year 1 and 7000 hours stated at a cost of $600 and finaly out Repair costs were $350 in each year The shelving cost $9,300 and was expected to it 5 years, with a residual value of $600 The was expected to last sle years, with a residual value of $2.000 CP9-1 (Static) Part 6 .com $300 and 6. Prepare the journal entry to record double declining balance depreciation expense for the fork for year 2. f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field) Journal entry worksheet Record the double-declining balance depreciation expense for the fork for year 2 Transaction General Jounal Debill Credt +