e. Depreciation was recorded for the month at an annual rate of 5% on the building and 20% on the factory equipment and office equipment. The sales and administrative staff uses approximately one-fifth of the building for its offices. f. During the month, various other expenses totaling $5,200 were incurred on account. The company has determined that one-fourth of this amount is allocable to the office function. g. Total factory overhead costs were transferred to Work in Process. h. During the month, goods with a total cost of $79,000 were completed and transferred to the finished goods storeroom. i. Sales for the month totaled $128,000 for goods costing $87,000 to manufacture. (Assume that all sales were made on account.) j. Accounts receivable in the amount of $105,000 were collected. k. Accounts payable totaling $55,000 were paid. Required: 1. Prepare journal entries to record the transactions. 2. Set up T-accounts for all accounts listed in the September 30, 2016, PostClosing Trial Balance and for Cost of Goods Sold, Factory Overhead, Selling and Administrative Expenses, Sales, and Wages Payable. Post the beginning trial balance and the journal entries prepared in Part 1 to the accounts and calculate the balances in the accounts on October 31. 3. Prepare a statement of cost of goods manufactured, an income state