Sun Systems Ltd. operates a manufacturing facility where specialized electronic components are assembled for use in consumer products. The facility was purchased in 2014 for a cost of $800,000, excluding the land component. At the time of purchase, it was believed that the building would have a useful life of 40 years with no residual value.

The company follows the policy of recording a full year of depreciation in the year of an asset’s acquisition and no depreciation in the year of an asset’s disposal. During 2020, the following transactions with respect to the building occurred:

• Regular repairs to exterior stucco and mechanical systems were incurred at a total cost of $32,000.

• In the middle of the year, the existing boiler system failed and required replacement.

The replacement cost of the new unit was $125,000. Management considers this to be a major component of the building, but had not separately recorded the cost of the original boiler, as it was included in the building purchase price. It is estimated inflation has increased the cost of these types of units by 15% since 2014.

• The entire building was repainted at a cost of $15,000 during the year. This did not extend the useful life of the building, but improved its overall appearance.

• A major structural repair to the foundation was undertaken during the year. This repair cost $87,000 and was expected to extend the useful life of the building by ten years over the original estimate.

• A small fire in the staff kitchen caused damage that cost $5,000 to repair.

Required: Prepare the journal entries to record the transactions that occurred in 2020.

Assume all transactions were settled in cash.