A company pays $265,400 cash for a truck expected to last six years and have a $30,000 salvage value. The following costs relate to the truck. January 1 Paid $21,900 cash for a new cosponent that increased the truck's productivity. March 1 Paid 55,475 cash for ninor repairs (broken tailgate) necessary to keep the truck working well. Novenber 7 Paid $14,850 cash for significant repairs to increase the useful life of the truck from six to nine years. Prepare journal entries to record these transactions. Journal entry worksheet Record payment of $21,900 cash for a new component that increased the truck's productivity. Note: Enter debits before credits. Record payment of $5,475 cash for minor repairs (broken tailgate) necessary to keep the truck working well. Note: Enter debits before credits. Record payment of $14,850 cash for significant repairs to increase the useful life of the truck from six to nine years. Note: Enter debits before credits