Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances:

Equipment	$	244,000
Accumulated Depreciation (beginning of the year)		152,000

During the first week of January 2018, the following expenditures were incurred for repairs and maintenance:

Routine maintenance and repairs on the equipment	$	2,650
Major overhaul of the equipment that improved efficiency		32,000

The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $16,000 estimated residual value. The annual accounting period ends on December 31.

1. Prepare the adjusting journal entry that would have been made at the end of 2017 for depreciation on the manufacturing equipment.

2. Starting at the beginning of 2018, what is the remaining estimated life?

3. Prepare the journal entries to record the two expenditures for repairs and maintenance during 2018.