5. Cost of goods sold is 80% of sales 3. Cost of units completed in the Polishing Department, $39,000 Transactions 1. Cost of units completed in the Cutting Department, $10,000 2. Cost of units completed in the Stamping Department, $30,000 3. Cost of units completed in the Polishing Department, $39,000 4. Sales on account, $60,000 5. Cost of goods sold is 80% of sales November: Prepare the journal entries for Galvan Company. (Record debits first, then credits. Exclude explanations from journal entries.) 1. Cost of units completed in the Cutting Department, $10,000 2. Cost of units completed in the Stampina Department. $30.000