Consider each of the transactions below. All of the expenditures were made in cash. 1. The Edison Company spent $16,000 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 $10,000 down and signed a noninterest- bearing note requiring the payment of $20,000 in nine months. The cash price for this equipment was $27,000. 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $32,000. 5. The Mayer Company, plaintiff, paid $16,000 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 $11,200. The old equipment had an original cost of $9,400 and a book value of $4,200 at the time of the trade. Johnson also paid cash of $8,800 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 below. Transac... Transac... 1 to 5 L Prepare journal entries to record each of the above transactions 1 to 5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $9,500. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal