Oaktree Company purchased new equipment and made the following expenditures:

Purchase price	$	54,000
Sales tax		3,100
Freight charges for shipment of equipment		790
Insurance on the equipment for the first year		990
Installation of equipment		1,900

The equipment, including sales tax, was purchased on 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 a transaction/event, select "No journal entry required" in the first account field.)