Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price Sales tax Shipment of machine Insurance on the machine for the first year Installation of machine $62,000 5,350 870 570 1,740 The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash Required: Record the above expenditures for the new machine. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)