Stacey Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2021 , an asset account for the company showed the following balances: In early January 2021 , the following expenditures were incurred for repairs and maintenance: The equipment is being depreciated on a straight-line basis over an estimated life of 10 years, with a $4,800 estimated residual value. The company's fiscal year ends on December 31 . Required: 1. Calculate the depreciation expense for the manufacturing equipment for 2020 . 2. Prepare the journal entries to record the two expenditures that occurred during 2021 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Prepare the journal entries to record the two expenditures that occurred during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the payment for ordinary repairs incurred Note: Enter debits before credits. 3. Prepare the adjusting entry at December 31, 2021, to record the depreciation of the manufacturing equipment, assuming no change n the estimated life or residual value of the equipment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet