external browser no&launchurahttp%253A%252F%252Fimis education.com/252Fmghmiddawar. IC Tumot Netti- Watch TV. x Watch TV Online, My Doctor Visor 600 Visa AMC Loews Alder Detersive Driving Khan, Laundry ght Exercises and Problems (15 pts.) Svet Help Seven Sum Checimy work Problem 8-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors completed the following transactions involving equipment Year 1 Jan. 1 Paid $287.600 cash plus 511,500 in sales tax and 51,590 L transportation shipping point for a loader The loader is estimated to have a four-year site and a $20,600 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid 54,800 to install air-Conditioning in the leader to enable operations under harsher conditions. This Increased the estimated walvage value of the leader by another 51,400. Dec. 31 Recorded annual straight-line depreciation on the loader. Year 2 1 Paid $5,400 to overhaul the loader engine, which increased the loader's estimated watul life by two years Feb. 17 Paid 5820 for minor repairs to the loader after the operator hacked it into a tree Dec. 31 Recorded annual straight-line depreciation on the loader. Jan. Required: Prepare journal entries to record these transactions and events