Nash Manufacturing operates a small factory building. Recently, the company paid some amounts related to its property, plant, and equipment.

Nash paid $49,200 to replace part of the factory floor. The floor had been capitalized as part of the factory building when it was purchased ten years previously and was not considered a separate component. When purchased, the building had been assumed to have a 30-year useful life and was being depreciated on a straight-line basis. At the time of the floor replacement, the building had been depreciated for 10 years. Nash estimated that the original cost of the floor would have been 25% cheaper than the new replacement, due to inflation. Prepare the journal entries to record these transactions, assuming Nash follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
(To record new factory floor.)
(To record the entry for the old floor.)

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List of Accounts

Nash paid a local company to perform some work on one of the companys forklifts (F1). The itemized invoice for the work showed charges of $770 for re-aligning the wheels, $280 for an oil change, $180 for replacing one of the belts, and $300 for touching up some paint. Prepare the journal entry to record this transaction, assuming Nash follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit

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List of Accounts

Nash also paid a local company $90,000 in cash for a computerized control panel. The control panel was to be added to one of Nashs existing manufacturing machines, which was currently operated manually. The control panel would control the machine by computer, making it more efficient. The existing machine had been purchased four years previously for $328,000 and was depreciated on a straight-line basis over twelve years. Prepare the journal entry to record this transaction, assuming Nash follows IFRS. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit