Brief Exercise 16-1 Warner Company purchases $53,900 of raw materials on account, and it incurs $61,600 of factory labor costs Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 Debit Credit (To record raw materials purchased) 31 To record factory labor costs) Click if you would like to Show Work for this question: Open Show Work