Blossom Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $3,360, Work in Process-Cutting $2,320, Work in Process-Assembly $8,480, and Finished Goods $24,800. During July, the following transactions occurred. 1. Purchased $50,000 of raw materials on account. 2. Incurred $48,000 of factory labor. (Credit Wages Payable.) 3. Incurred $56,000 of manufacturing overhead; $32,000 was paid and the remainder is unpaid. 4. Requisitioned materials for Cutting $12,560 and Assembly $7,120. 5. Used factory labor for Cutting $26,400 and Assembly $21,600. 6. 7. Applied overhead at the rate of $18 per machine hour. Machine hours were Cutting 1,344 and Assembly 1,376. Transferred goods costing $54,080 from the Cutting Department to the Assembly Department. 8. Completed and transferred goods costing $107,920 from Assembly to Finished Goods Inventory. 9. Sold goods costing $120,000 for $160,000 on account. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7. 8. 9. (To record the cost of goods sold) (To record the sale)