OKI Company pays $262.450 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 $23.500 cash for a new component that increased the equipment's productivity 2. Paid $5.875 cash for minor repairs necessary to keep the equipment working well. 3. Paid $16,450 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 $23,500 paid in cash Note: titer debts before credits Transaction General Journal Dobit Credit