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

During $2020,$ PC Software Inc. paid $$100,000$ for five acres of land with a building that will be used as a warehouse. According to appraisals, the land had a fair value of $$75,000$ and the building had a fair value of $$45,000..$

The Edison Company spent $$12,000$ during the year for experimental purposes in connection with the development of a new product.

The Johnson Company traded its old machine with an original cost of $$7,400$ and a book value of $$3,000$ plus cash of $$8,000$ for a new one that had a fair value of $$10,000.$

Required: Prepare all necessary journal entries to record each of the above transactions.

Note: You may create a table as follows to organize your journal entries.

$\backslash$table$[[$Date$,$Account titles,Debit,Credit$],[1,$Cash,$10,000,],[,$Sales Revenue,,$10,000]]$