Task: For each of the following expenditures, indicate the type of account (asset or expense) in which the expenditure should be recorded. Explain your answers.
1. $200 for repairing damage that resulted from the careless unloading of a new machine.
2. $ 7,000 cost of designing and registering a trademark.
3. $ 1,400 in legal fees incurred to perform a title search for the acquisition of land.
4. $400 cost of patching a leak in the roof of a building.
5. $90,000 cost of salaries paid to the research and development staff.