Champion Contractors completed the follwing transactions and events involving the purchase and operation of equipment in its an. Jan. 3 Paid $3,000 to onclose the cab and instal1 air-conditioning in the loader to enable Dec. 31 Bacorded annaal stzaight-1ine depreciation on the loader 101 0 business Paid $298,000 cash plus $11, 920 in sales tax and $1, 600 in transportation (FOB shipping point) for a new loader. The loader is estinated to have a four-year life and a $29,800 salvage value. Loader costs are recorded in the Equipment account. 2017 opezations under harsher conditions. This increased the eetimated salvage value of the loader by another $900. 2015 Jan. 1 Faid $4,100 to overhaul the loadez's angine, which increased the loader's estimated usetul life by two years. Dec. 31 Racorded annual straight-line depreciation on the loader. Required Prepare journal entries to record these transactions and events Journal entry worksheet Paid $298,000 cash plus $11,920 in sales tax and $1,600 in transportation (Fon shipping point) for year lWe and a $29,800 salvage value. Loader costs are recorded in the tquipmer account. a new loader. The loader is estimated to have a four- Prev4of 7EE Next Dec. 31 Recorded annual stlaiynt I Required: Prepare journal entries to record these transactions and events View transaction list Journal entry worksheet Paid $3,000 to enclose the cab and install air-conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $900, K Prev 4 f 7 Next> View transaction list Journal entry worksheet 6 Recorded annual straight-line depreciation on the loader. K Prev4 of 7Next View transaction list Journal entry worksheet 6 Paid $4,100 to overhaul the loader's engine, which increased the loader's estimated useful life by two years. K Prev 4 of 7 EE Next > Journal entry worksheet Paid $1,025 to repair the loader after the operator backed it into a tree. Prev 4 of 7 Next> Journal entry worksheet Recorded annual straight-line depreciation on the loader.