Required information P8-3 (Algo) Computing the Acquisition Cost and Recording Depreciation under Three Alternative Methods LO8-2, 8-3 [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 Primo Fitness, an established supplier of used, new and refurbished gym equipment in Southern California. The machines immediately were overhauled and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. By the end of the first year, each machine had been operating 5,400 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field