Exercise 3-1 (Algo) Prepare Journal Entries [LO3-1] Larned Corporation recorded the following transactions for the just completed month. a. $71,000 in raw materials were purchased on account b. $69,000 in raw materials were used in production, Of this amount, $61,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $112,000 were paid in cash. Of this amount, $102,200 was for direct labor and the remainder was for indirect labor. d. 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.) 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 4 $71,000 in raw materials were purchased on account. Noter Enter debits before orediti. ecord the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in he first account field.) Journal entry worksheet was for direct materials and the remainder. was for indirect materiag. Notet Eriter debits before credatd. 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 fleld.) Journal entry worksheet 4 Total labor wages of $112,000 were paid in cash. Of this amount, $102,200 Was for direct labor and the remainder was for indirect labor. Niter Enter debut) before oredies: 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 Depreciation of $190,000 was incurred on factory equipment. Note: Enter debits before credits