Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $306.250 for equipment expected to last four years and have a $30,000 salvage value. Prepare joumal entries to record the following costs related to the equipment 1. Paid $15,300 cash for a new component that increased the equipment's productivity. 2. Paid $3,825 cash for minor repairs necessary to keep the equipment working well. 3. Paid $8,250 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the betterment cost of 515,300 paid in cash. Pqote: Erief debits before oretits. Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $306,250 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entri record the following costs related to the equipment. 1. Paid $15,300 cash for a new component that increased the equipment's productivity. 2. Paid $3,825 cash for minor repairs necessary to keep the equipment working well. 3. Paid $8,250 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the cost of minor repairs of $3,825 paid in cash to keep the equipment working well. Note: Enter debits before credits; Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $306,250 for equipment expected to last four years and have a $30,000 salvage value. Prepare journa record the following costs related to the equipment. 1. Paid $15,300 cash for a new component that increased the equipment's productivity. 2. Paid $3,825 cash for minor repairs necessary to keep the equipment working well. 3. Paid $8,250 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the cost of significant repairs of $8,250 paid in cash to increase the useful life of the equipment. Note: Enter debits before credits