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

Equipment	$	305,000
Accumulated Depreciation (beginning of the year)		192,000

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

Routine maintenance and repairs on the equipment	$	2,950
Major overhaul of the equipment that improved efficiency		35,000

The equipment is being depreciated on a straight-line basis over an estimated life of 15 years with a $17,000 estimated residual value. The annual accounting period ends on December 31.

Required:

Indicate the effects (accounts, amounts, and + for increase and for decrease) of the following two items on the accounting equation, using the headings shown below. (Enter any decreases to Assets, Liabilities or Stockholder's Equity with a minus sign.)

1. The adjustment for depreciation made last year at the end of 2017.

2. The two expenditures for repairs and maintenance during January 2018. (Record each entry separately.)