Oaktree Company purchased new equipment and made the following expenditures: Purchase price $63,000 Sales tax 4,000 Freight charges for shipment of equipment 880 Insurance on the equipment for the first year 1, 080 Installation of equipment 2, 800 The equipment, including sales tax, was purchased or open account, with payment due in 30 days The other expenditures listed above were paid In cash. Required: Prepare the necessary journal entries to record the above expenditures, (If no entry is required for transaction/event, select No journal entry required In the first account field.) view transaction list view general journal Entry Worksheet Record the purchase 01 equipment. Event General Journal Debit Event