Correcting cost of goods general journal

Journal Entries; T-Accounts; Cost Flows [L04, L05, L07] Almeda Products. Inc.. uses a job-order costing system. The company's inventory balances on April 1. the start of its fiscal year, were as follows: During the year, the following transactions were completed: Raw materials were purchased on account. $200.000. Raw materials were issued from the storeroom for use in production. $189, 300 (80% direct and 20% indirect). Employee salaries and wages were accrued as follows: direct labor. $77, 000: indirect labor. $27, 000: and selling and administrative salaries. $79, 000. Utility costs were incurred in the factory. $42, 000. Advertising costs were incurred. $50, 000. Prepaid insurance expired during the year. $11, 000 (90% related to factory operations, and 10% related to selling and administrative activities). Depreciation was recorded. $61, 000 (85% related to factory assets, and 15% related to selling and administrative assets). Manufacturing overhead was applied to jobs at the rate of 175% of direct labor cost. Goods that cost $334, 000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. Sales for the year totaled $700, 100 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $321, 000. Prepare a journal entry to close this balance to Cost of Goods Sold. (Omit the "$" sign in your response.) Journal Entries; T-Accounts; Cost Flows [L04, L05, L07] Almeda Products. Inc.. uses a job-order costing system. The company's inventory balances on April 1. the start of its fiscal year, were as follows: During the year, the following transactions were completed: Raw materials were purchased on account. $200.000. Raw materials were issued from the storeroom for use in production. $189, 300 (80% direct and 20% indirect). Employee salaries and wages were accrued as follows: direct labor. $77, 000: indirect labor. $27, 000: and selling and administrative salaries. $79, 000. Utility costs were incurred in the factory. $42, 000. Advertising costs were incurred. $50, 000. Prepaid insurance expired during the year. $11, 000 (90% related to factory operations, and 10% related to selling and administrative activities). Depreciation was recorded. $61, 000 (85% related to factory assets, and 15% related to selling and administrative assets). Manufacturing overhead was applied to jobs at the rate of 175% of direct labor cost. Goods that cost $334, 000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. Sales for the year totaled $700, 100 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $321, 000. Prepare a journal entry to close this balance to Cost of Goods Sold. (Omit the "$" sign in your response.)