Custom Cobinetry has one job in process (Hob 120) as of June 30; at that time, its job cois shenet reports drect materipo of $7600. direct labor of $4.300, and bpplied overheud of $3,870. Custom Cabinetry apples overhesd at the rate of 90\% of direct labor cout During July. Job 120 is sold fon credit for $23.500, Job 121 is started and completed, and Job 122 is started and init in process at the end of Joly. Custom Cobinety incurs the fodowing costs during July. 1. Prepare journal ertries foe the following July transactions and owents a through e a. Drect muterisls vened b. Direct tabor used c. Orerticat appled a. Sise of 30 120 e. Cost of goodi toid for job 120. Mine job 120 has costs from dune and Juy. 2. Compule the duly 31 bolances of the Woik in Process loventory and the Finlihed Goods hivereoyr accounte. (T)stre where iou jood Wh Finished Goods invenobry at 1 the 30) Complete this quation by enteeing yeur answers ia the tabs below, Journal entry worksheet 45 Record the entry to assign direct materials to job. Note: Enter debits before credis Journal entry worksheet 5 Record the entry to assign direct labor to job. Fote: Enter debits before credits. Journal entry worksheet 5 Record the application of overhead to work in process. Notet Einter debits before credits. Journal entry worksheet (1) 2. 5 Record the sale of Job 120 on account. Note: Enter debics before credits Journal entry worksheet (1) 2 Record cost of goods sold for Job 120. Note: Enter debits before credits. d. Sale of Job 120 . e. Cost of goods sold for Job 120. Hint Job 120 has costs from June and July. 2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventary accounts. (There in Finished Goods inventory at June 30 ) Complete this question by entering your answers in the tabs below. Compute the July 31 balances of the Work in Process Inventory and the Finithed Goods inventory accounts, (There weren Sobs in Finished Goods liventory at June 30 .)