Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method Choose Numerator: Choose Denominator: Annual Depreciation = Annual depreciation ped Year Annual Depreciation X Fraction of Year Depreciation Expense Look First year Second year N 1. Paid $13,300 cash for a new component that increased the equipment's productivity. 2. Paid $3,325 cash for minor repairs necessary to keep the equipment working well. 3. Paid $6,250 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list eBook Hint Journal entry worksheet Print Terences Record the betterment cost of $13,300 paid in cash. Note: Enter debits before credits Transaction General Journal Debit Credit Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method Choose Numerator: Choose Denominator: Annual Depreciation = Annual depreciation ped Year Annual Depreciation X Fraction of Year Depreciation Expense Look First year Second year N 1. Paid $13,300 cash for a new component that increased the equipment's productivity. 2. Paid $3,325 cash for minor repairs necessary to keep the equipment working well. 3. Paid $6,250 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list eBook Hint Journal entry worksheet Print Terences Record the betterment cost of $13,300 paid in cash. Note: Enter debits before credits Transaction General Journal Debit Credit