Oki Company pays $257,950 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the folliowing costs related to the equlpment. 1. Paid $26,950 cash for a new component that Increased the equipment's productivity. 2. Pald $6,738 cash for minor repairs necessary to keep the equipment working well. 3. Pald $19,900 cash for significant repairs to Increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet > A Record the betterment cost of $26,950 paid in cash. Note: Enter debits before credits. Transaction Debit General Journal Credit Oki Company pays $257,950 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. 4 1. Pald $26,950 cash for a new component that Increased the equipment's productivity 2. Pald $6,738 cash for minor repairs necessary to keep the equipment working well. 3. Pald $19,900 cash for significant repairs to Increase the useful life of the equipment from four to seven years View transaction list Journal entry worksheet K B A Record the cost of minor repairs of $6,738 paid in cash to keep the equipment working well. Note: Enter debits before credits. Debit Credit General Journal Transaction Oki Company pays $257,950 for equlpment expected to last four years and have a $30,000 salvage value. Prepare Journal entries to record the following costs related to the equlpment. 1. Paid $26,950 cash for a new component that increased the equipment's prod uctivity. 2. Pald $6,738 cash for minor repairs necessary to keep the equipment working well. 3. Pald $19,900 cash for significant repairs to Increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet