Consider each of the transactions below All of the expenditures were made in cash The Edison Company spent $20,000 during the year for experimental purposes in connection with the development of a new product In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $6,000 In March, the Cleanway Laundromat bought equipment Cleanway paid $14,000 down and signed a noninterest bearing note requiring the payment of $22,000 in nine months The cash price for this equipment was $33,000 On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $36,000 The Mayer Company, plaintiff, paid $20,000 in legal fees in November, in connection with a successful infringement suit on its patent The Johnson Company traded its old machine with an original cost of $11,400 and a book value of $5,400 plus cash of $9,600 for a new one that had a fair value of $12,400 The exchange has commercial substance Required Prepare journal entries to record each of the above transactions (If no entry is required for a transaction event, select No journal entry required in the first account field )

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Consider each of the transactions below. All of the expenditures were made in cash. The Edison Company spent $20,000 during the year for experimental purposes

Consider each of the transactions below. All of the expenditures were made in cash.

The Edison Company spent $20,000 during the year for experimental purposes in connection with the development of a new product.
In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $6,000.
In March, the Cleanway Laundromat bought equipment. Cleanway paid $14,000 down and signed a noninterest-bearing note requiring the payment of $22,000 in nine months. The cash price for this equipment was $33,000.
On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $36,000.
The Mayer Company, plaintiff, paid $20,000 in legal fees in November, in connection with a successful infringement suit on its patent.
The Johnson Company traded its old machine with an original cost of $11,400 and a book value of $5,400 plus cash of $9,600 for a new one that had a fair value of $12,400. The exchange has commercial substance.

Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)