E9-7 (Algo) Computing and Recording Units-of-Production Depreciation (LO 9-3] Turquoise Associates bought a machine at the beginning of the year at a cost of $33,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 15,500 units. Expected annual production was year 1, 3,100 units; year 2, 4,100 units; year 3, 3,100 units; year 4, 3,100 units; and year 5, 2,100 units. Required: 1. Complete a depreciation schedule for the units-of-production 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 units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Balance Sheet Year Income Statement Depreciation Expense Cost Accumulated Depreciation Book Valu 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 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