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KLK Clothing Company manufactures prolessional clothing for women. In order to keep costs low while still producing quality clothes, KL.K conducts many RBD projects. On a current project, KLK researchers used $40,000 of cotton and $28,000 of wool from its inventory. KLK paid its fesearchers $35,000 cash in wagos and putchased a special weaving machine for $50,000 cash. The machine was not suitable for use in production activities and was not expected to be used in other research projects. In add ison, depreciation expense related to the propectb research lab amounted to $25,000. Required: Prepare the joumal entry to record KUK's RSD costs. Chart of Accounts ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Recelvable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 171 Research Lab 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation: Research Lab 521 Salaries Expense 526 Research and Development Expense LIABILITIES 532 Bad Debt Expense 211 Accounts Payable 540 Interest Expense 231 Salaries Payable 541 Depreciation Expense 250 Unearned Revenue 559 Miscellaneous Expenses 261 Income Taxes Payable 910 income Tax Expense EQUITY 311 Common Stock 331 Retained Earnings Prepare the journal entry to record KLK's R\&D costs on December 31. General Joumal lnstructions

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