Exercise 3-1 (Algo) Prepare Journal Entries [LO3-1]

Larned Corporation recorded the following transactions for the just completed month.

1. $84,000 in raw materials were purchased on account.
2. $82,000 in raw materials were used in production. Of this amount, $75,000 was for direct materials and the remainder was for indirect materials.
3. Total labor wages of $116,000 were paid in cash. Of this amount, $102,700 was for direct labor and the remainder was for indirect labor.
4. Depreciation of $190,000 was incurred on factory equipment.

Required:

Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet $82,000 in raw materials were used in production. Of this amount, $75,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal Journal entry worksheet Depreciation of $190,000 was incurred on factory equipment. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal