Sheffield Service Ltd. uses straight-line depreciation. The company's fiscal year end is December 31 . The following transactions and events occurred during their first three years of operations: 2021 Jul 1 Purchased equipment for $80,000 cash, with shipping costs of $5,600. Nov 3 Incurred ordinary repairs on the computer of $1,520. Dec 31 Recorded 2021 depreciation on the basis of a four-year life and estimated residual value of $1,200. 2022 Dec 31 Recorded 2022 depreciation. 2023 Jan 1 Paid $4,800 for a major upgrade of the equipment. This expenditure is expected to increase the operating efficiency and capacity of the equipment. Prepare journal entries to record the above events. (If no entry is required, select "No entry" for the occount tities and enter O for the amounts. Credit account titles are outomatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Equipment 85,600 Cash Nov 3 Repairs and Maintenance Expense Cash Dec31 Depreciation Expense Accumulated Depreciation - Equipment 2022 Dec31 Depreciation Expense Accumulated Depreciation-Equipment 2023 Jan1 Equipment 4,800 Accumulated Depreciation - Equipment 2022 Dec 31 - Depreciation Expense 21,100 Accumulated Depreciation-Equipment 21,100 2023 tan1 Equipment Cash