Saved He Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2017 an. 1 Paid $294,000 cash plus $11,760 in sales tax and $1,900 in transportation (FoB shipping point) for a new loader. The loader is estinated to have a four-year life and a $29,400 selvage velue. Loader costs are recorded in the Equipment account. d $4,000 to enclose the cab and install air-conditioning in the loader to enable operations under harsher This increased the estimated salvage value of the loader by snother $1,200. Dec. 31 Recorded annusl straight-line depreciation on the losoer 2018 Feb. 17 Paid $1,e50 to repair the loader after the operator backed it loaden's engine, wnich increased the lceden's estimated useful life by two years. into a tree. Dec. 31 Recorded annual straignt-line depreciation on the loader. Required Prepare journal entries to record these transections and events Journal entry worksheet Paid $294,000 cash plus $11,760 in sales tax and $1,900 in transportation FOB shipping point) for a new loader. The loader is estimated to have a four- year life and a $29,400 salvage value. Loader costs are recorded in the Equipment account. 0