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Return to question ! Required information [The following information applies to the questions displayed...

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Accounting

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At the beginning of the year, Jorgenson Companies bought a shed, a machine, and a trailer.
The shed initially cost $20,900 but had to be renovated at a cost of $660. The shed was expect to last 7 years, with a residual value of $1,750. Repairs costing $480 were incurred at the end of the first year of use.
The machine cost $11,550, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2.
The trailer cost $11,900 and was expected to last 4 years, with a residual value of $2,000.
2. Compute year 2 straight-line depreciation expense for the shed and prepare the journal entry to record it.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answer is complete but not entirely correct.
\table[[No,Transaction,General Journal,Debit,Credit],[A,1,Depreciation Expense,,1,939,],[,,Accumulated Depreciation, Shed,,.,1,075
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