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: Salaries and wages for: Lab research Design and construction of preproduction prototype Quality control during commercial production Materials and supplies consumed for: Lab research Construction of preproduction prototype. Purchase of equipment Patent filing and legal fees for completed project Payments to others for research Total $430,000 290,000 33,000 73,000 43,000 730,000 53,000. 185,000 $ 1,837,000 A total of $265,000 of equipment was purchased solely for use in one of the projects. After the project is completed, the equipment will be abandoned. The remaining $465,000 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.