Champion Contractors completed the following transactions involving equipment. Year 1 January 1 paid $286,000 cash plus $11,440 in sales tax and $1,800 in transportation (FO8 shipping point) for a nes loader. The loader is estimated to have a four-year life and a $28,600 salvage value. Loader costs are recorded in the Equipment account. January 3 paid $4,000 to install air conditioning in the loader to enable operations under harsher eonditions. This increased the estimated salvage value of the loader by another $1,200. Decerber 31 Recorded annual straight-1ine depreciation on the loader. Year 2 January 1 Paid $4,600 to overhaul the loader's engine, which inereased the loader's estimated usefu1 11 fe by two years. February 17 pald 51,150 for minor repairs to the loader after the operator backed it into a tree. December 31 Recorded annual straight-1ine depreciation on the loader. Required: Prepare journal entries to record these transactions and events. Required: Prepare journal entries to record these transactions and events. Journal entry worksheet