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journal entires for each date please Champion Contractors completed the following transactions involving equipment. Year 1 January 1 Paid $322,000 canh plus $12,880 in sales

journal entires for each date please
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Champion Contractors completed the following transactions involving equipment. Year 1 January 1 Paid $322,000 canh plus $12,880 in sales tax and $1,900 in transportation (Fon shipping point) for a new loader. The loader in estimated to have a four-year 1ffe and a $32,200 ealvage value. Loader costs are recorded in the Equipment account. January 3 Paid $5,000 to insta11 air conditioning in the loader to enable operations under haraher conditions. This increased the estimated salvage value of the loader by another $1,500. December 31 Recorded annual straight-1 ine depreciation on the loader. Year 2 January 1 Paid $4,600 to overhaul the loader's engine, which increased the loader's estimated useful life by two years. February 17 paid $1,150 for minor repairs to the loader after the operator backed it into a tree. December 31 Recorded annual straight-line depreciation on the loader. Required: Prepare journal entries to record these transactions and events. Journal entry worksheet 6 Paid $322,000 cash plus $12,880 in sales tax and $1,900 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a fouryear life and a $32,200 salvage value. Loader costs are recorded in the Equipment account. Note: Enter debits before credits

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