Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of the current year, an asset account for the company showed the following balances: During the current year, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2 the current year that improved efficiency $13,000 Routine repairs on the equipment 1,000 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $12,000 estimated residual value. The annual accounting period ends on December 31. Prepare the journal entries to record the two expenditures during the current year. lote: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the expenditure for the major overhaul of the equipment. Note: Enter debits before credits. Record the expenditure for routine maintenance and repairs on the equipment. Note: Enter debits before credits