I have two problems I need help with. I attached the file with the two problems.

Problem 10-5 Acquisition costs; journal entries [LO10-1, 10-3, 10-6, 10-8] Consider each of the transactions below. All of the expenditures were made in cash. 1. The Edison Company spent $28,000 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 $10,000. 3. In March, the Cleanway Laundromat bought equipment. Cleanway paid $22,000 down and signed a noninterestbearing note requiring the payment of $26,000 in nine months. The cash price for this equipment was $41,000. 4. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $44,000. 5. The Mayer Company, plaintiff, paid $28,000 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 $15,400 and a book value of $7,800 plus cash of $11,200 for a new one that had a fair value of $14,800. The exchange has commercial substance. Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction, select "No journal entry required" in the first account field.) Problem 10-8 Nonmonetary exchange [LO10-6] Case A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $13,000 (original cost of $30,000 less accumulated depreciation of $17,000) and a fair value of $9,200. Kapono paid $22,000 cash to complete the exchange. The exchange has commercial substance. Required: 1.1 What is the amount of gain or loss that Kapono would recognize on the exchange? 1.2 What is the initial value of the new tractor? Assume the fair value of the old tractor is $16,000 instead of $9,200. 2.1 What is the amount of gain or loss that Kapono would recognize on the exchange? 2.2 What is the initial value of the new tractor? Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $510,000 and a fair value of $720,000. Kapono paid $52,000 cash to complete the exchange. The exchange has commercial substance. Required: 1.1 What is the amount of gain or loss that Kapono would recognize on the exchange? 1.2 What is the initial value of the new land? Assume the fair value of the farmland given is $408,000 instead of $720,000. 2.1 What is the amount of gain or loss that Kapono would recognize on the exchange? 2.2 What is the initial value of the new land? Repeat requirement 1 of case B, assuming that the exchange lacked commercial substance. 3.1 What is the amount of gain or loss that Kapono would recognize on the exchange? 3.2 What is the initial value of the new land