Chapter 10 Problems i Help Save & Exit Submit Saved Oaktree Company purchased new equipment and made the following expenditures: 5 $49,000 2,600 740 940 1,400 Purchase price Sales tax Freight charges for shipment of equipment Insurance on the equipment for the first year Installation of equipment 10 points The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required Prepare the necessary journal entries to record the above expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook References View transaction list Journal entry worksheet Record the purchase of equipment. Note: Enter debits before credits Event General Journal Debit Credit