Oki Company pays $324,300 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 $17,200 cash for a new component that increased the equipment's productivity. 2. Paid $4,300 cash for minor repairs necessary to keep the equipment working well. 3. Paid $10,150 cash for significant repairs to increase the useful Ife of the equipment from four to seven years. Journal entry worksheet Record the betterment cost of $17,200 paid in cash. Note: Enter debits before credits. Oki Company pays $324,300 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 $17,200 cash for a new component that increased the equipment's productivity. 2. Paid $4,300 cash for minor repairs necessary to keep the equipment working well. 3. Paid $10,150 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the cost of minor repairs of $4,300 paid in cash to keep the equipment working well. Note: Enter debits before credits. Okl Company pays $324,300 for equipment expected to last four ycars and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. Paid $17,200 cash for a new component that increased the equipment's productivity. 2. Paid $4,300 cash for minor repairs necessary to keep the equipment working well. 3. Paid $10,150 cash for significant repairs to increase the useful life of the equipment from four to seven years. Journal entry worksheet Record the cost of significant repairs of $10,150 paid in cash to increase the useful life of the equipment. Noter Erter debits before credits