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Keatts Corporation owns a machine that was purchased 3 years ago. The company spent $7,000...

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Accounting

Keatts Corporation owns a machine that was purchased 3 years ago. The company spent $7,000 improve the productive quality of the machine. Which of the following choices represents the journal entry necessary to record this transaction?
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Mach. Acc. Dep.
(7,000) + n/a n/a = n/a + (7,000) n/a 7,000 = (7,000) (7,000) OA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Mach. Acc. Dep.
(7,000) + 7,000 n/a = n/a + n/a n/a n/a = n/a (7,000) IA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Mach. Acc. Dep.
(7,000) + n/a (7,000) = n/a + n/a n/a n/a = n/a (7,000) IA
Assets = Liab. + Equity Rev. Exp. = Net Inc. Cash Flow
Cash + Mach. Acc. Dep.
(7,000) + n/a n/a = n/a + (7,000) n/a 7,000 = (7.000) (7,000) IA

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