Oki Company pays $316,250 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 $21,400 cash for a new component that increased the equipment's productivity. 2. Paid $5,350 cash for minor repairs necessary to keep the equipment working well. 3. Paid $14,350 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet A B C > Record the betterment cost of $21,400 paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalDiaz Company owns a machine that cost $126,700 and has accumulated depreciation of $92,200. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,700 cash. 3. Diaz sold the machine for $34,500 cash. 4. Diaz sold the machine for $40,300 cash. View transaction list Journal entry worksheet 2 3 4 Record the disposal of the machine receiving nothing in return. Note: Enter debits before credits. Date General Journal Debit Credit Jan 01 Record entry Clear entry View general journal