GoodeHill Company replaced some parts of its factory building during 2011:
(a) The outside corrugated covering on the factory walls was removed and replaced. The job was done by an expert crew from Hollister Construction Company and will extend the life of the building by six years. The cost of the new wall was $84,000. The cost of the old wall is estimated to be $60,000. The building is 20% depreciated.
(b) Dust filters in the interior of the factory were replaced at a cost of $20,000. The new filters are expected to reduce employee health hazards and thus reduce wage and fringe benefit costs. The original filters cost $11,000. The old filters are one-fourth depreciated. Prepare journal entries for the preceding information.