In 2024, Starsearch Corporation began work on three research and development projects. One of the projects was completed and commercial production of the developed product began in December. The company's fiscal year-end is December 31 . All of the following 2024 expenditures were included in the R\&D expense account: A total of $230,000 of equipment was purchased solely for use in one of the projects. After the project is completed, the equipment will be abandoned. The remaining $430,000 in equipment will be used on future R&D projects. The useful life of equipment is five years. Assume that all of the equipment was acquired at the beginning of the year. Required: Prepare journal entries, reclassifying amounts in R\&D expense, to reflect the appropriate treatment of the expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 1 Record entry to capitalize the cost of equipment to be used on future projects incorrectly charged to R\&D expense. 2 Record depreciation on equipment used in R\&D projects. 3 Record entry to capitalize filing and legal fees for patent incorrectly charged to R\&D expense. 4 Record the entry to reclassify the expenditures made for quality control during commercial production assuming the costs would be treated as manufacturing overhead. Note : = journal entry has been entered