A capital acquisitions manager recently purchased equipment needed to begin production of new inventory. The listed purchase cost of the equipment from a vendor was $70,000. In addition, six other costs related to the equipment were incurred at the time of acquisition and in the first month of operations. These six related costs are displayed in the illustration. Record the summary entry for the $110,000 of expenditures related to the equipment. (Assume all costs were paid in cash. Employee training is incurred through salary costs.) (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)