Consider each of the transactions below. All of the expenditures were made in cash. 1. The Edison Company spent $27,000 during the year for experimental purposes in connection with the development of a new product 2. In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $9.500. 3. In March, the Cleanway Laundromat bought equipment Cleanway paid $21,000 down and signed a noninterest-bearing note requiring the payment of $25,500 in nine months. The cash price for this equipment was $40,000. 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $43.000 5. The Mayer Company, plaintiff, paid $27,000 in legal fees in November, in connection with a successful infringement suit on its patent 6. The Johnson Company traded its old equipment for new equipment. The new equipment has a fair value of $14,500. The old equipment had an original cost of $14.900 and a book value of $7,500 at the time of the trade. Johnson also paid cash of $11,000 as part of the trade. The exchange has commercial substance. Required: Prepare journal entries to record each of the above transactions. Complete this question by entering your answers in the tabs belowe. Transactions 1 to 5 Transaction 6 Prepare journal entries to record each of the above transactions 1 to 5. (If no entry entry required" in the first account field.) required for a transaction/event, select "No journal View transaction list Journal entry worksheet 1 2 3 4 5 The Edison Company spent $27,000 during the year for experimental purposes in connection with the development of a new product. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal