Oki Company pays $280,200 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 $15,200 cash for a new component that increased the equipments productivity. 2. Paid $3,800 cash for minor repairs necessary to keep the equipment working well. 3. Paid $8,150 cash for significant repairs to increase the useful life of the equipment from four to seven years.