Consider each of the transactions below. All of the expenditures were made in cash. 1. The Edison Company spent $31,000 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 $11,500. 3. In March, the Cleanway Laundromat bought equipment. Cleanway paid $25,000 down and signed a noninterest-bearing note requiring the payment of $27,500 in nine months. The cash price for this 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of 5. The Mayer Company. plaintiff, paid $31,000 in legal fees in November, in connection with a successful 6. The Johnson Company traded its old machine with an original cost of $16,900 and a book value of equipment was $44,000 $47,000 infringement suit on its patent. $8,700 plus cash of $11,800 for a new one that had a fair value of $15,700. 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.)