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A company purchased a new machine and made the following expenditures: Purchase price $ 69,000 Sales tax 5,700 Shipment of machine 940 Insurance on the

A company purchased a new machine and made the following expenditures:

Purchase price $ 69,000
Sales tax 5,700
Shipment of machine 940
Insurance on the machine for the first year 640
Installation of machine 1,880

The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.

Required:

Record the above expenditures for the new machine. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

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