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Business, 04.07.2020 21:01 Ezasha

At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Advantage, Inc. 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 CAmount paid for asset $ 11,000 $ 30,000 $ 8,000Installation costs 500 1,000 500Renovation costs prior to use 2,500 1,000 1,500By the end of the first year, each machine had been operating 4,800 hours. Required:1. Compute the cost of each machine.2. Prepare one 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.)

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