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Consider each of the transactions below. All of the expenditures were made in cash. 1. The Edison Company spent $16,000 during the year for experimental purposes in connection with the development of a new product 2. In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $9,500 3. In March, the Cleanway Laundromat bought equipment. Cleanway paid $10,000 down and signed a noninterest-bearing note requiring the payment of $20,000 in nine months. The cash price for this equipment was $27,000 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $32,000. 5. The Mayer Company, plaintif, paid $16,000 in legal fees in November, in connection with a successful infringement suit on its patent 6. The Johnson Company traded its old machine with an original cost of $9,400 and a book value of $4,200 plus cash of $8,800 for a new one that had a fair value of $11,200. The exchange has 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.) View transaction list Journal entry worksheet The Edison Company spe in connection with the development of a new product. nt $16,000 during the year for experimental purposes General Journal Debit Credit