Martinez Service Ltd$.$ uses straight$-$line depreciation. The company's fiscal year end is December $31.$ The following transactions and

events occurred during their first three years of operations:

$2023$ July $1$ Purchased equipment for $$73,000$ cash, with shipping costs of $$4,900.$

Nov. $3$ Incurred ordinary repairs on a computer of $$1,170.$

Dec. $31$ Recorded $2023$ depreciation on the equipment based on a four$-$year life and estimated residual value of

$$700.$

$2024$ Dec. $31$ Recorded $2024$ depreciation.

$2025$ Jan. $1$ Paid $$4,100$ for a major upgrade of the equipment. This expenditure is expected to increase the operating

efficiency and capacity of the equipment.

Prepare journal entries to record the above events. $($If no entry is required, select $"$No entry" for the account titles and enter

$0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.

Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$

Date

Account Titles

$2023$

Debit

Credit