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Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3) [The following information applies to the questions displayed below) At the beginning of the year, Buffalo Machinery bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset $10,900 Installation costs Renovation costs prior to use 1,170 Repairs after production began 990 890 PA9-1 (Algo) Part 5 5. Prepare the journal entry to record year 2 units of production depreciation expense for Machine B, assuming g capitalized cost of $49,980, an estimated life of 30,000 hours, $4,500 residual value and actual year 2 use of 8,000 hours. (Do nor round Intermediate calculations. 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 year 2 depreciation expense for Machine B. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal

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