Ch 08 Ex 8-15 Help Save & Exit Sub Check my wo Exercise 8-15 Extraordinary repairs; plant asset age LO C3 Martinez Company owns a building that appears on its prior year end balance sheet at its original $690,000 cost less $517,500 accumulated dep is depreciated on a straight -ine basis assuming a 20-year life and no salvage value. During y of the current calendar year, major structural repairs are completed on the building at a $69,000 cost. The points The repairs extend its usefuli ife for 5 years beyond the 20 years originally estimated the building's age (plant asset age) as of the prior year end balance sheet date 2. Prepare the entry to record the cost of the structural repairs that are paid in cash Journal entry worksheet Prev of Nex