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During the current year ending on December 31, BSP Company completed the following transactions:

1. On January 1, purchased a patent for $45,000 cash (estimated useful life, ten years).
2. On January 1, purchased another business for $162,000 cash, including $13,000 for goodwill. The assets included accounts receivable with a fair value of $13,000 and property and equipment with a fair value of $136,000 (with a residual value of $14,280 and estimated useful life of 10 years). The company assumed no liabilities. Goodwill has an indefinite life.
3. On December 31, constructed a storage shed on land leased from D. Heald. The cost of the shed was $28,600. The company uses straight-line depreciation. The lease will expire in three years. (Amounts spent to enhance leased property are capitalized as intangible assets called Leasehold Improvements.)
4. Total expenditures for ordinary repairs were $5,800 during the current year.
5. On December 31 of the current year, sold Machine A for $6,900 cash. Original cost was $22,000; accumulated depreciation to December 31 of the prior year was $15,120 (on a straight-line basis with a $3,100 residual value and five-year useful life). Record the depreciation expense in transaction e(1) and the sale in transaction e(2).
6. On December 31 of the current year, paid $6,300 for a complete reconditioning of Machine B acquired on January 1 of the prior year. Original cost, $57,000; accumulated depreciation to December 31 of the prior year was $3,500 (on a straight-line basis with a $8,000 residual value and 14-year useful life).

Required:

1. Record journal entries for transactions (a) through (f).

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.