arielgar1736 arielgar1736

19-12-2022
Business

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Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entriesto record the following costs related to the equipment 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Pald $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years.

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