Problem 10-4A Computing and revising depreciation; revenue and capital expenditures Lo c1, c2, c3 Champion Contractors completed the following transactions and events involving the purchase and operat business 2016 488 in sales tax and $2,009 in transportation (F0s shipping point) for a new loader. The Loaden is estinated to have af value. Loader costs are recorded in the Equipment account enc lose the cab and install air conditioning in the loader to enable opera tions under harsher conditions This increased the estinated salvage value Dec. 31 Recorded annual straight-line depreciation on the loader 2017 an. 1 Paid $4,8 feb. 17 Paid $1,28e to repair the loader af Dec. 31 Recorded annuel straight-line depreciation on the loader 880 to overhaul the loader's engine, which increased the loader's estimated useful life by two years ter the operator backed it into a tree es Required: Prepare journal entries to record these transactions and events View transaction list Journal entry worksheet |1|2 3 4 5 6 Paid $262,000 cash plus $10,480 in sales tax and $2,000 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four- year life and a $26,200 salvage value. Loader costs are recorded in the Note: Enter debits before credits Jan 01, 2016 Next > Prey 30f 11