Blackboard Remaining Time: 2 hours, 02 minutes, 02 seconds. Question Completion Status: ABC Inc. began operations on January 1. The Company had the following events during its first year of operation: a) Company issued stock to owners for $100,000 cash. b) Purchased materials, $8,000 for cash. c) Transferred $4,000 of direct materials to production (Job # 1: $3,000; Job # 2: $1,000). d) Paid direct labor costs, $5,000 (Job # 1: $2,500; Job #2: $2,500). e) Paid $3,000 cash for various actual overhead costs. f) Allocated overhead to work in process at 60% of direct labor cost. g) Completed Job # 1 and transferred it to Finished Goods. h) Sold Job #1 for $8,400 cash. i) Paid $200 cash for selling and administrative expenses. Required: Record the above events in the method of your choice such as journal entry form, horizontal statement model or T-accounts. Label your transactions (a) - (i). For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph XX P TT V Arial 10pt EE v v Tx +6 - + HET V IT 99 x Click Save and Submit to save and submit. Click Save All Answers to save all answers. ka O WORDS POWERED BY TINY Save All Answers Save and Submit