On April 1, 2022, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $48,000, has an eight-year useful life, and has no residual value. The company uses the straight-line depreciation method for all manufacturing equipment.

On January 4, 2024, $12,350 was spent to repair the equipment and to add a feature that increased its operating efficiency. Of the total expenditure, $2,000 represented ordinary repairs and annual maintenance and $10,350 represented the cost of the new feature. In addition to increasing operating efficiency, the total useful life of the equipment was extended to 10 years.

Required:

1. Prepare journal entries for the depreciation for 2022 and 2023. (Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare journal entry for the 2024 expenditure. [Any capitalized amounts are recorded using Alternative 2capitalization of new cost]. (Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

3. Prepare journal entry for the depreciation for 2024. (Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

\begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline December 31, 2022 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline December 31, 2023 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline January 04, 2024 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline December 31, 2024 & & & \\ \hline & & & \\ \hline \end{tabular}