Oki Company pays $259,500 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 $16,950 cash for a new component that increased the equipment's productivity. 2. Paid $4,238 cash for minor repairs necessary to keep the equipment working well. 3. Paid $9,900 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the betterment cost of $16,950 paid in cash. Note: Enter debits before credits. Oki Company pays $259,500 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 $16,950 cash for a new component that increased the equipment's productivity. 2. Paid $4,238 cash for minor repairs necessary to keep the equipment working well. 3. Paid $9,900 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the cost of significant repairs of $9,900 paid in cash to increase the useful life of the equipment. Note: Enter debits before credits. Oki Company pays $259,500 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 $16,950 cash for a new component that increased the equipment's productivity. 2. Paid $4,238 cash for minor repairs necessary to keep the equipment working well. 3. Paid $9,900 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet C Record the cost of minor repairs of $4,238 paid in cash to keep the equipment working well. Note: Enter debits before credits