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For each of the following transactions, select the correct type of expenditure. Transactions Type of Expenditure |(1) Purchased a patent, $4,300 cash. | (2) Paid
For each of the following transactions, select the correct type of expenditure. Transactions Type of Expenditure |(1) Purchased a patent, $4,300 cash. | (2) Paid $10,000 for monthly salaries. (3) Paid cash dividends, $20,000. (4) Purchased a machine, $7,000; gave a long-term note. (5) Paid three-year insurance premium, $900. (6) Paid for routine maintenance, $200, on credit. |(7) Paid $400 for ordinary repairs. (8) Paid $6,000 for improvements that lengthened the asset's productive life. | (9) Paid $20,000 cash for addition to old building
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