(4 points) For each of the items below, prepare the appropriate entry.

1.A motor in one of Excels trucks was overhauled at a cost of $2,500. Excel expects this overhaul will make the truck operated on a more efficient basis, i.e., the truck will get better gas mileage.

2.James, a maintenance worker at Excel, spent the entire week unloading and setting up a new machine in Excels factory. James earned $1,500 that week, however, James will not be paid until the following week. (Do not worry about any withholdings from James pay.)

3.Excel incurred and paid $1,600 for ordinary repairs on one of its machines.

4.Excel incurred and paid $10,000 for adjustments to one of its machines. The adjustments will increase the useful life of the machine.