Freitas Corporation was organized early in 2018. The following expenditures were made during the first few months of the year:

Attorneys fees in connection with the organization of the corporation	$	14,000
State filing fees and other incorporation costs		5,200
Purchase of a patent		21,700
Legal and other fees for transfer of the patent		3,500
Purchase of equipment		31,600
Pre-opening salaries and employee training		41,900
Total		117,900

Required: Prepare a summary journal entry to record the $117,900 in cash expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)