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Click in the account title sections of the journal entry and select the correct account titles to be debited and credited from the pick
Click in the account title sections of the journal entry and select the correct account titles to be debited and credited from the pick list. Correct debit/credit selections will turn the cells green. Assume the business commenced operations on January 1, and the summary entries below are the only ones related to job costing activities. Calculate and enter the correct amounts that would appear in financial statements as of the end of January. Correct values will turn the cells green. GENERAL JOURNAL Date Accounts Debit Credit ACCOUNT TO DEBIT 25,000 During Jan ACCOUNT TO CREDIT To record purchase of raw materials 25,000 GENERAL JOURNAL Date Accounts Debit Credit During Jan. ACCOUNT TO DEBIT 30,000 ACCOUNT TO CREDIT 10,000 ACCOUNT TO CREDIT 8,000 12,000 ACCOUNT TO CREDIT To transfer $10,000 of raw materials to production, incur $8,000 of direct labor, and apply $12,000 of overhead GENERAL JOURNAL Date Accounts ACCOUNT TO DEBIT During Jan. ACCOUNT TO CREDIT To transfer completed units to finished goods GENERAL JOURNAL Debit Credit 20,000 20,000 Date Accounts Debit Credit ACCOUNT TO DEBIT 45,000 During Jan. ACCOUNT TO CREDIT To record sales of finished goods 45,000 GENERAL JOURNAL Date Accounts ACCOUNT TO DEBIT During Jan. ACCOUNT TO CREDIT To transfer finished goods to cost of goods sold Debit 15,000 Credit 15,000
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