Seved 6 Help Save 10 points Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Ok Company pays $262,850 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 equipment 1. Paid $13,650 cash for a new component that increased the equipment's productivity 2. Paid $3,413 cash for minor repairs necessary to keep the equipment working well. 3. Paid $6,600 cash for significant repairs to increase the useful life of the equipment from four to seven years. Book Het View transaction list Ask Journal entry worksheet References Note: Enter debit before credits Transaction General Journal 1 Debit Credit Record entry Clear entry View general Journal MacBook Air 235 NO ar 2 3 D Help Save Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $262,850 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 equipment. 1. Paid $13,650 cash for a new component that increased the equipment's productivity 2. Paid $3,413 cash for minor repairs necessary to keep the equipment working well 3. Paid $6,600 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet A B Record the cost of minor repairs of $3,413 pald in cash to keep the equipment working well Note: Enter debits before credits Transaction 2 General Journal Debit Credit Record entry Clear entry View general Journal Exercise 8-14 (Algo) Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $262,850 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 equipment. 1. Paid $13,650 cash for a new component that increased the equipment's productivity 2. Pald $3,413 cash for minor repairs necessary to keep the equipment working well. 3. Pald $6,600 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry worksheet