question 3&6.

thank you!

Champion Contractors completed the following transactions involving equipment Year 1 Jan. 1 Paid 5322,000 cash plus $12,880 in sales tax and $1,800 in transportation (FOB shipping point for a new loader. The loader is estimated to have a four-year life and a $32,200 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 paid $5,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another 51.500. Dec. 31 Recorded annual straight-line depreciation on the loader. Year 2 Jan. 1 Paid $4,600 to overhaul the loader's engine, which increased the loader's estimated useful life by two years. Feb. 17 Paid 51, 150 for minor repairs to the loader after the operator backed it into a tree. Dec. 31 Recorded annual straight-Line depreciation on the loader. Required: Prepare journal entries to record these transactions and events. Journal entry worksheet 1 2 3 5 6 > Paid $322,000 cash plus $12,880 in sales tax and $1,800 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four- year life and a $32,200 salvage value. Loader costs are recorded in the Equipment account. Note: Enter debits before credits Date General Journal Debit Credit Jan 1, Year 1 Equipment 336,680 Cash 336,680 Journal entry worksheet 1 N 3 5 6 > Paid $5,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $1,500. Note: Enter debits before credits. Date General Journal Debit Credit Jan 3, Year 1 5,000 Equipment Cash 5,000 Record entry Clear entry View general journal Journal entry worksheet