Oki Company pays $320,750 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 $25,850 cash for a new component that increased the equipment's productivity. 2. Paid $6,463 cash for minor repairs necessary to keep the equipment working well. 3. Paid $18,800 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 $25,850 paid in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal ald $18,800 cash for sighill "View transaction list Journal entry worksheet < A C Record the cost of minor repairs of $6,463 paid in cash to keep the equipment working well. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal ald $25,850 cash for a new component that increased the equipment's productivity. Paid $6,463 cash for minor repairs necessary to keep the equipment working well. Pald $18,800 cash for significant repairs to Increase the useful life of the equipment from fom View transaction list Journal entry worksheet < A B C Record the cost of significant repairs of $18,800 paid in cash to increase the useful life of the equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Prev