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please help me with the journal entries for all six dates Champion Contractors completed the following transactions involving equipment. Yeor 1 January 1 pald $310,000
please help me with the journal entries for all six dates
Champion Contractors completed the following transactions involving equipment. Yeor 1 January 1 pald $310,000 cash plus $12,400 in sales tax and $1,500 in srensportation (ecou shipping polnt) for a new loader. The looder is estimated to hove o four-year 11 fe and a $311,000 salvage value, coader coges are fecorded in the tquipoent inccount: Jaruary 7 pafd $6, aen to install alr conditioning in the loader to enable operations voder harsher conditions, This increased the estinated salvoge value of the losder by another $1,800. Decenter 32 Aecorded armual stralght-1ine deprectat lan on the losder. Year 2 January 1 pald 55 , cope to overhaul the londer's englne, which Increatied the loader's estimated useful 1 ife by two years. Fetruary 17 Pold \$1,250 for alnor repoirs to the losder ifter the operpotor backed it into a tree. December 11 pecorded antial strafight-line depreclation on the loader Step by Step Solution
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