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Sandhill Company purchases $$60,000$ of raw materials on account, and it incurs $$72,000$ of factory labor costs.

Journalize the two transactions on March $31,$ assuming the labor costs are not paid until April. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Mar. $31$

$($To record raw materials purchased$)$

$31$

$($To record factory labor costs$)$

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