diff --git a/web3/_utils/transactions.py b/web3/_utils/transactions.py
index 3879acab57..e438cd2a3b 100644
--- a/web3/_utils/transactions.py
+++ b/web3/_utils/transactions.py
@@ -206,36 +206,42 @@ def assert_valid_transaction_params(transaction_params: TxParams) -> None:
 
 def prepare_replacement_transaction(
     web3: "Web3",
-    current_transaction: TxData,
-    new_transaction: TxParams,
+    original_transaction: TxData,
+    replacement_transaction: TxParams,
     gas_multiplier: float = 1.125
 ) -> TxParams:
-    if current_transaction['blockHash'] is not None:
-        raise ValueError(f'Supplied transaction with hash {current_transaction["hash"]!r} '
+    if original_transaction['blockHash'] is not None:
+        raise ValueError(f'Supplied transaction with hash {original_transaction["hash"]!r} '
                          'has already been mined')
-    if 'nonce' in new_transaction and new_transaction['nonce'] != current_transaction['nonce']:
+    if 'nonce' in replacement_transaction and (
+        replacement_transaction['nonce'] != original_transaction['nonce']
+    ):
         raise ValueError('Supplied nonce in new_transaction must match the pending transaction')
 
-    if 'nonce' not in new_transaction:
-        new_transaction = assoc(new_transaction, 'nonce', current_transaction['nonce'])
+    if 'nonce' not in replacement_transaction:
+        replacement_transaction = assoc(
+            replacement_transaction, 'nonce', original_transaction['nonce']
+        )
 
-    if 'maxFeePerGas' in new_transaction or 'maxPriorityFeePerGas' in new_transaction:
+    if any(_ in replacement_transaction for _ in ('maxFeePerGas', 'maxPriorityFeePerGas')):
         # for now, the client decides if a 1559 txn can replace the existing txn or not
         pass
 
-    elif 'gasPrice' in new_transaction and current_transaction['gasPrice'] is not None:
-        if new_transaction['gasPrice'] <= current_transaction['gasPrice']:
+    elif 'gasPrice' in replacement_transaction and original_transaction['gasPrice'] is not None:
+        if replacement_transaction['gasPrice'] <= original_transaction['gasPrice']:
             raise ValueError('Supplied gas price must exceed existing transaction gas price')
 
     else:
-        generated_gas_price = web3.eth.generate_gas_price(new_transaction)
-        minimum_gas_price = int(math.ceil(current_transaction['gasPrice'] * gas_multiplier))
+        generated_gas_price = web3.eth.generate_gas_price(replacement_transaction)
+        minimum_gas_price = int(math.ceil(original_transaction['gasPrice'] * gas_multiplier))
         if generated_gas_price and generated_gas_price > minimum_gas_price:
-            new_transaction = assoc(new_transaction, 'gasPrice', generated_gas_price)
+            replacement_transaction = assoc(
+                replacement_transaction, 'gasPrice', generated_gas_price
+            )
         else:
-            new_transaction = assoc(new_transaction, 'gasPrice', minimum_gas_price)
+            replacement_transaction = assoc(replacement_transaction, 'gasPrice', minimum_gas_price)
 
-    return new_transaction
+    return replacement_transaction
 
 
 def replace_transaction(