Check m 9 Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 Dan. 1 Paid $287,600 cash plus $11,580 in sales tax and $1,500 in transportation (FOB shipping point) for ints a new loader. The loader is estimated to have a four-year life and a $20,609 salvage value. Loader costs are recorded in the Equipment account. eBook Jan. 3 Paid $4,8e0 to enclose the cab and install air-conditioning in the loader to enable operations Print under harsher conditions. This increased the estimated salvage value of the loader by another $1,480. Dec. 31 Recorded annual straight-lin? depreciation on the loader. 2017 0an. 1 Paid $5,400 to overhaul the loaden's engine, which increased the loader's estimated useful life by Feb. 17 Paid $828 to repair the loader after the operator backed it into a tree. Dec. 31 Recorded annual straight-line depreciation on the loader. Required: two years. Prepare journal entries to record these transactions and events