Durham Company's trial balance as of January 1, the beginning of the current year, is shown below: Cash Accounts Receivable Raw Materials Work in Process Finished Goods Prepaid Insurance Plant and Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings $ 8,000 13,000 7,000 18,000 20,000 4,000 230,000 $ 42,000 30,000 150,000 78,000 Total $300,000 $300,000 Durham Company uses a job-order costing system. During the year, the following transactions took place: a. Raw materials were purchased on account: $45,000. b. Raw materials were requisitioned for use in production: $40,000 (80% direct and 20% indirect). c. Factory utility costs were incurred: $14,600. d. Depreciation was recorded on plant and equipment: $28,000. Three-fourths of the depreciation relates to factory equipment, and the remainder relates to selling and administrative equipment. e. Costs for salaries and wages were incurred as follows: Direct labour Indirect labour Sales commissions Administrative salaries $ 40,000 $ 18,000 $ 10,400 $ 25,000 f. Prepaid insurance expired during the year: $3,000 (80% relates to factory operations, and 20% relates to selling and administrative activities) g. Miscellaneous selling and administrative expenses were incurred: $18,000. h. Manufacturing overhead was applied to production. The company applies overhead on the basis of 150% of direct labour cost. i. Goods that cost $130,000 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. j. Goods that had cost $120,000 to manufacture according to their job cost sheets were sold on account for $200,000. k. Collections from customers during the year totalled $197,000. 1. Payments to suppliers on account during the year totalled $100,000; payments to employees for salaries and wages totalled $90,000. Required: 1.& 2. Prepare a T-account for each account in the company's trial balance, and enter the beginning balances. Make an entry directly into the T-accounts for transactions (a) through (1). Also post adjusting or closing entries, if any. Determine an ending balance for each T-account