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For each of the accounts listed, prepare two summary journal entries. In the first entry, illustrate a transaction that would cause the account to be
For each of the accounts listed, prepare two summary journal entries. In the first entry, illustrate a transaction that would cause the account to be debited. In the second entry, illustrate a transaction that would cause the account to be credited. Assume that perpetual inventory records are maintained.
a. Materials Inventory.
b. Direct Labor.
c. Manufacturing Overhead.
d. Finished Goods Inventory.
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