All 6 journal entries

Champion Contractors completed the following transactions involving equipment. Year 1 January 1 Paid $258, eae cash plus $10,320 in sates tax and $1,700 in transportation (F0e shipping point) for a nex loader. The loader is estinated to have a four-year life and a $25, 8ee satvage value. Loader costs are recorded in the Equipnent account. January 3 Paid $7,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estinated salvage value of the loader by another $2,100. December 31 Recorded annual straight-line depreciation on the loader. Year 2 January 1 Paid $4,600 to overhaul the loader's engine, which increased the loader's estinated useful Iife by two years. February 17 Paid $1,150 for minor repairs to the loader after the operator backed it into a tree. Decenber 31 Recorded annual straight-line depreciation on the lader. Required: Prepare journal entries to record these transactions and events. Journal entry worksheet Notei Enter bebits before credts