Oki Company pays $255,850 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 $18,050 cash for a new component that increased the equipment's productivity. 2. Paid $4,513 cash for minor repairs necessary to keep the equipment working well. 3. Paid $11,000 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 $18,050 paid in cash. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Diaz Company owns a machine that cost $125,400 and has accumulated depreciation of $91,300. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,900 cash. 3. Diaz sold the machine for $34,100 cash. 4. Diaz sold the machine for $40,700 cash. View transaction list Journal entry worksheet