Problem 10-5 Consider each of the transactions below all of the expenditurs werre made in cash 1. The edison company spent 12,000 during the yearfor te xperimental purposes in connection with the devolopment of a new product 2. In april the marshall company lost a patient infringment suit and paid the plaintiff 7,500 3. In march the clenway landromat bough equipment clleanway paid 6000 down and signed a noninterest bearing note requiring the payment of 18,000 in 9 months the cash price for the equipment was 23,000 4. On june 1 the jamson corp installed a sprnkler system throughout the building at a cost of 28,000 5. The mayer comp plaitiff paid 12,000 legal fees i november in connenction with a successful infringment suit on its patent. 6. The johnson company traded its old machine with an origonal cost of 7400 and a book value of 3,000 plus cash of 8,000 for a new one that had a fair value of 10,000 the exchange has a commercal substance Required Prepare journal entrys to record each of the above transactions