Holland Flour Mills purchased new equipment and made the following expenditures: Purchase price $60,000$ Sales tax $5,250$ Shipment of equipment $850$ Insurance on the equipment for the first year $550$ Installation of equipment $1,700$ Required: Record the expendituresAll expenditures were paid in cash$($If no entry is required for a particular transaction$/$ event, select $"$No Journal Entry Required" in the first account field.$)$