Oki Company pays $271,800 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 $23,950cosh for a new component that increased the equipment's proctuctivity. 2. Paid $5,988 cash for minor repairs necessary to keep the equipment working well. 3. Paid $16,900 cash for significant repairs to increase the useful ilfe of the equipment from four to seven years Journal entry worksheet Record the betterment cost of $23,950 paid in cash Journal entry worksheet Record the betterment cost of 523,950 pald in cash. Nitet Entte ceb to before credits. Journal entry worksheet c. working well loselicter debus before creditin. Journal entry worksheet Fecord the cost of significant repalis of 516.900 paid la kay fo lificass the Hiseful life of the equipment. lices erterdents before oredits