Patterson Company pays $262,850 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. During the second year of the equipments life, $27,200 cash is paid for a new component expected to increase the equipments productivity by 10% a year. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select) 2. During the third year, $6,800 cash is paid for normal repairs necessary to keep the equipment in good working order. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select) 3. During the fourth year, $20,150 is paid for repairs expected to increase the useful life of the equipment from four to five years. (Omit the "$" sign in your response.) General Journal Debit Credit (Click to select) (Click to select)