E9-4 (Algo) Recording Straight-Line Depreciation and Repairs [LO 9-2, LO 9-3) Water Company operates a small manufacturing facility. On January 1, 2021. an asset account for the company showed the following balances Equipment $375,000 Accumulated Depreciation beginning of the years 25,50 During the first week of January 2021, the following cash expenditures were incurred for repairs and maintenance Routine mantence and repairs on the wa 2,050 O over the equipment that proved 10.000 The equipment is being depreciated on a straight line banks over an estimated life of 20 years with a $10.000 evra value. The annual accounting period ends on December 31 Required: Indicate the effects accounts, amounts, and for increase and for decrease of the following two items on the accounting room using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus 1. The adjustment for depreciation made last year at the end of 2020 2. The two expenditures for repairs and maintenance during January 2021 2020 2021 2021