Exercise 10-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $256,600 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment 1. During the second year of the equipment's life, $23.250 cash is paid for a new component expected to increase the equipment's productivity by 10% a year 2. During the third year, $5,813 cash is paid for normal repairs necessary to keep the equipment in good working order 3. During the fourth year, $16,200 is paid for repairs expected to increase the useful le of the equipment from four to five years. View transaction list Journal entry worksheet 2 3 Record the betterment cost of $23,250 paid in cash. Journal entry worksheet 23 Record the betterment cost of $23,250 paid in cash. Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Clear entry Record entry