For each of the following items, select whether the cost should be capitalized or expensed. Transactions 1. Purchased a machine, $70,000; gave long-term note. 2. Paid $600 for ordinary repairs. 3. Purchased a patent, $45,300 cash. 4. Paid cash, $200,000, for addition to old building. 5. Paid $20,000 for monthly salaries. 6. Paid $250 for routine maintenance. 7. Paid $16,000 for extraordinary repairs.

For each of the following items, select whether the cost should be capitalized or expensed. For each of the following items, select whether the cost should be capitalized or expensed