entries. CNOW joumals will automatically indent a credit entry when a credit amount is entered. Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July: July 1 Materials purchased on account, $644,380 2 Materials requisitioned, $670,250, of which $71,770 was for general factory use 31 Factory labor used, $637,900, of which $88,640 was indirect 31 Other costs incurred on account for factory overhead, $142,060; selling expenses, $238,560; and administrative expenses, $151,300 31 Prepaid expenses expired for factory overhead, $29,450; for selling expenses, $27,540; and for administrative expenses, $18,720 31 Depreciation of office building was $84,480; of office equipment, $43,730; and of factory equipment, $32,270 31 Factory overhead costs applied to jobs, $379,790 31 Jobs completed, $988,380 31 Cost of goods sold, $921,340 Required: Journalize the entries to record the summarized operations. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered