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Journal Entries Paulson Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Pauling July 5 Received material costing $6,000 from a supplier. The material was purchased on account. 9 Requisitioned $18,000 of material for use in the factory, consisting of $15,000 of direct material and $3,000 of indirect material. 11 Recorded the factory payroll: $40,500 of direct labor and $4,500 of indirect labor. Applied $60,000 of manufacturing overhead to the products being manufactured. Completed product costing $48,000 and moved it to the warehouse. Sold goods with a product cost of $9,000 on account for $15,000. a. and b. Record the transactions listed above in general journal form, post relevant portions to the four T-accounts set-up below, and balance the four accounts. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{\begin{tabular}{c} General journal \\ \hline Date \end{tabular}} & Description \\ \hline July 5 & & & \end{tabular} For T-accounts, enter transactions in order of occurrence using the first available answer box in the appropriate debit or credit column. \begin{tabular}{|l|r|l|l|} \hline \multicolumn{4}{|c|}{ Materials Inventory } \\ \hline Bal. & 21,000 & & \\ \hline & & \\ \hline Bal. & & \\ \hline \end{tabular} \begin{tabular}{|l|r|l|} \hline \multicolumn{3}{|c|}{ Finished Goods Inventory } \\ \hline Bal. & 30,000 & \\ \hline & & \\ \hline Bal. & & \\ \hline \end{tabular} \begin{tabular}{|l|r|l|} \hline \multicolumn{3}{|c|}{ Work in Process inventory } \\ \hline Bal. & 75,000 & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Bal. & \\ \hline \end{tabular}