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Oki Company pays $262,750 for equipment expected to last four years and have a $30,000...

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Accounting

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Oki Company pays $262,750 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. ti 10% a 1. During the second year of the equipment's life, $17,600 cash is paid or a new component expected to increase the equipment's pro 2. During the third year, $4,400 cash is paid for normal repairs necessary to keep the equipment in good working order 3. During the fourth year, $10,550 is paid for repairs expected to increase the useful life of the equipment from four to five years. ear. View transaction list Journal entry worksheet Record the betterment cost of $17,600 paid in cash Note: Enter debits before credits. Transaction General Journal Debit Credit

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