Oki Company pays $305,550 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 $28.900 cash for a new component that increased the equipment's productivity. 2. Paid $7,225 cash for minor repairs necessary to keep the equipment working well. 3. Paid $21,850 cash for significant repairs to increase the useful life of the equipment from four to seven years. < A B C Record the betterment cost of $28,900 paid in cash... Note: Enter debits before credits. Transaction 1 General Journal Debit Credit < A B C Record the cost of minor repairs of $7,225 paid in cash to keep the equipment working well. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit < A B C Record the cost of significant repairs of $21,850 paid in cash to increase the useful life of the equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit 3