Thampion Contractors completed the following transactions involving equipment. January 1 Paid $270,000 cash plus $10,800 in sales tax and $2,000 in transportation (F0B shipping point) for ear 1 a new loader. The loader is estimated to have a four-year life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. January 3 Paid $7,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $2,100. ecenber 31 Recorded annual straight-line depreciation on the loader. January 1 Paid $4,300 to overhaul the loader's engine, which increased the loader's estimated useful life by cos2 ebruary 17 Paid $1,075 for minor repairs to the loader after the operator backed it into a tree. two years. ecember 31 Recorded annual straight-line depreciation on the loader. lequired: repare journal entries to record these transactionst and events. Journal entry worksheet 2 (3) 4 (5) 6 Paid $270,000 cash plus $10,800 in sales tax and $2,000 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a fouryear life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. Note: Enter debits before credits. Journal entry worksheet 4 5 6 Paid $7,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $2,100. Note: Enter debits before credits. J0