Classifying expenditure as asset or expense. For each of the following expenditures or…

Classifying expenditure as asset or expense. For each of the following expenditures or acquisitions, indicate the type of account debited. Classify the account as (1) asset other than product cost, (2) product cost (Work-in-Process Inventory), or (3) expense. If the account debited is an asset account, specify whether it is current or noncurrent. a. $150 for repairs of office machines. b. $1,500 for emergency repairs to an office machine. c. $250 for maintenance of delivery trucks. d. $5,000 for a machine acquired in return for a three-year note. e. $4,200 for research and development staff salaries. f. $3,100 for newspaper ads. g. $6,400 for wages of factory workers engaged in production. h. $3,500 for wages of factory workers engaged in installing equipment the firm has purchased. i. $2,500 for salaries of the office workforce. j. $1,000 for legal fees incurred in acquiring an ore deposit. k. $1,200 for a one-year insurance policy beginning next month. l. $1,800 for U.S. Treasury notes, to be sold to pay the next installment due on income taxes. m. $4,000 for royalty payment for the right to use a patent used in manufacturing. n. $10,000 for purchase of a trademark. o. $100 filing fee for copyright registration application. p. $1,850 to purchase computer software used in record keeping. q. $8,600 to purchase from its creator initial research on a possible drug to treat hypertension.

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