Oki Company pays $262.250 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 $27.950 cash for a new component that increased the equipment's productivity 2 Paid $6.988 cash for minor repairs necessary to keep the equipment working well 3. Paid 520,900 cash for significant repairs to increase the useful ue of the equipment from four to seven years. View transaction list Journal entry worksheet B Record the betterment cost of $27,950 paid in cash. No Enter debits before credits Transaction General Journal Debit Credit