Mc Help Save & Exit Proctoring Enabled. Exam Unit 4/Chapters 10 & 11 Okt Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entries to record the following costs related to the equipment 30 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working woll 3. Paid $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years. oso View transactions Journal entry worksheet Record the betterment cost of $22,000 paid in cash. Note: Enter debits before credits Transaction General Journal Debil Credit Record entry Clear entry View general journal >