Business, 21.01.2020 04:31 heyitseddie06

Oki company pays $277,200 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.

1. during the second year of the equipmentâs life, $14,400 cash is paid for a new component expected to increase the equipmentâs productivity by 10% a year.
2. during the third year, $3,600 cash is paid for normal repairs necessary to keep the equipment in good working order.
3. during the fourth year, $7,350 is paid for repairs expected to increase the useful life of the equipment from four to five years.

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Oki company pays $277,200 for equipment expected to last four years and have a $30,000 salvage value...

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