2014 Jan. 1 Paid $255,440 cash plus $15,200 in sales tax and $2,500 in transportation (FOB shipping point) for a new loader The loader is estimated to have a four-year life and a $34,740 residual value. Loader costs are recorded in the Equipment account Jan. 3 Paid $3,660 to enclose the cab and install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated residual value of the loader by another $1,110. Recorded annual straight-ine depreciation on the loader 2015 Jan. 1 Paid $4,500 to overhaul the loaders engine, which increased the loader's estimated useful life by two years. Feb. Paid $920 to repair the loader after the operator backed it into a tree. Recorded annual straight-line depreciation on the loader Required: Prepare journal entries to record these transactions and events. (Round your intermediate calculations and final answers to the nearest dollar amount. Omit the "$" sign in your response. General Journal Debit redit Jan. 1,2014 Equipment 273140 Cash 273140 Jan. 3,2014 Equipment 3,660 Cash 3,660 Dec 41 Depreciation expense-equipment 2014 Accumulated depreciation-equipr Jan. 1,2015 Equipment 4,500 Cash 4,500 Feb 17, 2015 Repairs expense-equipment 920 Cash 920 Dec 31 2015 Depreciation expense-equipment Accumulated depreciation-equipr