Oki Company pays $253,050 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. Paid $25,850 cash for a new component that increased the equipment's productivity 2. Paid $6,463 cash for minor repairs necessary to keep the equipment working well. 3. Paid $18,800 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet Record the betterment cost of $25,850 paid in cosh. Note: Enter debits before credits Transaction General Journal Debit Credit