value: 0.00 points Problem 10-5 Acquisition costs; journal entries [LO10-1, 10-3,10-6,10-8] Consider each of the transactions below. All of the 1. The Edison Company spent $13,000 during the year for experimental purposes in connection with the 2. In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $8,000 expenditures were made in cash. development of a new product. 3. In March, the Cleanway Laundromat bought equipment. Cleanway paid $7,000 down and signed a noninterest-bearing note requiring the payment of $18,500 in nine months. The cash price for this equipment was $24,000 $29,000 infringement suit on its patent. $3,300 plus cash of $8,200 for a new one that had a fair value of $10,300. The exchange has 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of 5. The Mayer Company, plaintiff, paid $13,000 in legal fees in November, in connection with a successful 6. The Johnson Company traded its old machine with an original cost of $7,900 and a book value of commercial substance Required Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)