Please enter following entry into general journal. Clearly label with debits and credits please.

7) August 1, 20x7 the company had to complete a major overhaul on an assembly machine. The machine had been purchased for $430,000 on August 1, 20x2. The machine was expected to last for 12 years with a $70,000 salvage value. If the repairs had not been completed, the machine would not function efficiently in the company and would have to be disposed for its parts, which would have brought the company about $30,000. The cost of the repairs was $33,000, but the overhaul was expected to add 2 years onto the remaining life of the machine. The repairs were paid for in cash.

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