Weaver Pharmaceuticals, an IFRS reporter, paid cash for the following to fund its research activities: testing materials and supplies, $611,300, research consultants, $111,400; planning and design consultants, $135,200, and general-purpose laboratory equipment, S953,000. The equipment has a 4-year useful life and no residual value. Prepare the journal entry required to record Weaver's research expenditures for the year. Assume that projects developed by planning and design consultants meet conditions for capitalization. The equipment was acquired on January 1. (Assume the company uses the straight-line depreciation method. Record debits first, then credits. Exclude explanations from any journal entries.) CERE Prepare the journal entry to record Weaver's research expenditures for the current year. Do not record the cost associated with the laboratory equipment. We will do that in the next step Account Current Year Prepare the journal entry to record the cost of the laboratory equipment. Account Current Year Prepare the journal entry to record the depreciation on the laboratory equipment. Account Current Year