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1. Knockoff Corporation makes a videogame unit known as the Gij. During the month of June, the following transactions occurred. Record any necessary journal entries

image text in transcribed 1. Knockoff Corporation makes a videogame unit known as the Gij. During the month of June, the following transactions occurred. Record any necessary journal entries for a-e. 1. Knockoff purchased $300,000 of raw materials inventory on account. 2. The company incurs salary expense of $45,000, which will not be paid until the beginning of July. 3. Knockoff owes the IRS and other government entities $120,000 in taxes. 4. OK Buy places an advance order for Giis, and pays Knockoff $23,000. The Gijs will be shipped in July. 5. Knockoff owes a local bank $4,000 in interest

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