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Oki Company pays $253,100 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 equlpment 1, During the second year of the equipment's life, $27400 cash Is pald for a new component expected to Increase the equipment's productivity by 10% a year. 2 Durtng the third year, $6.850 cash is pald for normal repairs necessary to keep the equipment In good working order 3. During the fourth year, $20,350 is pald for repairs expected to Increase the useful life of the equipment from four to five years View transacion let Journal entry worksheet 2 3 ces Record the betterment cost of $27.400 pald in cash Note: Enter debits before credts Transaction General Journal Debit Credit Maw general journal Racord entry Clear antry repairs necessary to keep the equipment In Durtng the fourth year, $20,350 Is pald for repalrs expected to Increase the useful Ife of the equi View transaction lHlet Journal entry worksheet 3 Record the cost of normal repairs of $6,850 paid in cash to keep the equipment in good working order. Note: Enter debits before credits Transaction General Journal Debit Credit View generat journal Clear ry Racord ontry Durtng the second year of the equipment's hfe. $27.400 cash is pald for a new component ex productivity by 10% a year. Durtng the third year, $6,850 cash is pald for normal repairs necessary to keep the equipment During the fourth year, $20,350 is pald for repalrs expected to Increase the useful hfe of the ec View traneaction llst Journal entry worksheet