Required information [The following information applies to the questions displayed below.] At the beginning of the...

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Required information [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. Machine A Machine B Machine C $ 35,300 2,700 1,900 $ 19,700 1,700 1,800 $ 25,800 Invoice price paid for asset Installation costs 600 Renovation costs prior to use 4,000 By the end of the first year, each machine had been operating 6,200 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.) ESTIMΑTES Residual Depreciation Method Machine Life Value 7 years 75,000 hours 8 years $1,700 2,400 3,500 Straight-line Units-of-production Double-declining-balance А В C Journal entry worksheet 1 Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Required information [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. Machine A Machine B Machine C $ 35,300 2,700 1,900 $ 19,700 1,700 1,800 $ 25,800 Invoice price paid for asset Installation costs 600 Renovation costs prior to use 4,000 By the end of the first year, each machine had been operating 6,200 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.) ESTIMΑTES Residual Depreciation Method Machine Life Value 7 years 75,000 hours 8 years $1,700 2,400 3,500 Straight-line Units-of-production Double-declining-balance А В C Journal entry worksheet 1 Record the depreciation expense for year 1. Note: Enter debits before credits. Transaction General Journal Debit Credit 1

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