Oki Company pays $259,550 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. View transaction list Journal entry worksheet A B C Record the betterment cost of $16,950 paid in cash Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Journal entry worksheet A Record the cost of minor repairs of $4,238 paid in cash to keep the equipment working well Note: Enter debits before credits. General Journal Credit Transaction Debit 2 Journal entry worksheet C A 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. Credit General Journal Transaction Debit 3