Atlas Manufacturing incurred the following costs during 2022: 1 2 3 4 5 6 Spent $15,000 on a major overhaul for a tractor trailer rig. The overhaul is expected to increase the service life of the rig by three years. Rearranged and reconfigured the maintenance, loading, and unloading facilities at a cost of $75,000. The rearrangement is expected to result in substantial cost savings and increased efficiency over the next several years. Acquired a patent for $40,000 related to the processing of the company products in exchnage for 1,000 shares of Atlas' common stock. The stock had a par value of $1 per share and a fair value of $40 per share. Paid annual insurance premium on the property for the coming year, $7,700. Scrapped equipment during the year which had a total cost of $110,000 and accumulated depreciation of $95,000. No cash was received for the scrap. Assume accumulated depreciation current. Landscaped the property and added outdoor lights, $9,000. Purchased a truck for $30,200 in exchange for a note payable, due in 12 7 months @ 8% interest. The company also paid cash of $3,200 for freight and $3,800 for installation and testing of the equipment Required: Prepare journal entries to record the above costs.