Rochester Flour Mills purchased new equipment and made the following expenditures:

Purchase price $ $70,000$

Sales tax $5,750$

Shipment of equipment $950$

Insurance on the equipment for the first year $650$

Installation of equipment $1,900$

Required:

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.$)$