Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 Jan. 1 Paid $282,000 cash plus $11,280 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader. Jan. 3 Paid $7,000 to enclose the cab and install air conditioning in the loader to enable Dec. 31 Recorded annual straight-line depreciation on the loader. 2017 The loader is estimated to have a four-year life and a $28,200 salvage value. Loader costs are recorded in the t account. operations under harsher conditions. This increased the estimated salvage value of the loader by another $2,100. Jan. 1 Paid $4,100 to overhaul the loader's engine, which inereased the loader's estimated useful life by two years. Feb. 17 Paid $1,025 to repair the loader after the operator backed it into a tree. Dec. 31 Recorded annual straight-line depreciation on the loader. Required Prepare journal entries to record these transactions and events. Journal entry worksheet Paid $282,000 cash plus $11,280 in sales tax and $1,600 in transportation shipping point) for a new loader. The loader is estimated to have a four- year life and a $28,200 salvage value. Loader costs are recorded in the account Note: Enter debits before credits. Prey 1 of1 Next Copy of Craig. xisx Journal entry worksheet Paid $282,000 cash plus $11,280 in sales tax and $1,600 in (FOB shipping point) for a new loader. The loader is estimated to have a four- year life and a $28,200 salvage value. Loader costs are recorded in the Jan 01, 2016 Clear entry Prev 1 of 1