Oki Company pays $253,950 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 $20,100 cash for a new component that increased the equipment's productivity 2. Paid $5,025 cash for minor repairs necessary to keep the equipment working well. 3. Paid $13,050 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet B Record the betterment cost of $20,100 paid in cash Note: Enter debits before credits Transaction General Journal Debit Credit 1 Oki Company pays $253,950 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 $20,100 cash for a new component that increased the equipment's productivity 2. Paid $5,025 cash for minor repairs necessary to keep the equipment working well 3. Paid $13,050 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet B Record the cost of minor repairs of $5,025 paid in cash to keep the equipment working well Note: Enter debits before credits Debit General Journal Transaction Credit 2