Lapeer Flour Mills purchased new equipment and made the following expenditures: Purchase price Bales tax Shipment of equipment Insurance on the equipment for the first year Installation of equipment Required: S. 72,000 5,850 970 670 1,940 Record the expenditures. All 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.) View transaction list Journal entry worksheet 1 Record the expenditures. All expenditures were paid in cash.