RoboCop Company paid $31,400 for a machine that was expected to last 5 years and have a residual value of $5,000.During the fourth year of the machine's life,$5,400 was paid for repairs that were expected to increase the service life of the machine from 5 to 7 years.Prepare the general journal entry to record this transaction.

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The Answer of RoboCop Company paid $31,400 for a machine that was expected to last 5 years and have a residual value of $5,000.During the fourth year of the machine's life,$5,400 was paid for repairs that were expected to increase the service life of the machine from 5 to 7 years.Prepare the general journal entry to record this transaction.

RoboCop Company Paid $31,400 for a Machine That Was Expected