Making a journal entry-by-product Tampa Metals manufactures tin. During the process, a by-productscrap metal-is obtained and placed in stock. The estimated sales value of the scrap metal produced during the month of April is \(\$ 2,000\). Assume that the value of the by-product reduces production cost.

Make the journal entry for April to record the following:

a. Placing of the scrap metal in stock

b. Sale of one-half of the scrap metal for \(\$ 850\), on account.