for Instructions Instructions Chart of Accounts Journal Materials issued for the current month are as follows: Requisition No. Material Job No. Amount 201 Aluminum 500 $87,910 202 Plastic 503 27,540 203 Rubber 504 3,840 204 Glue Indirect 2,020 205 Steel 510 38.580 Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the Chart of Accounts for exact wording of account titles. Journal Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the Chart of Accounts for exact wording of account titles. How does grading work? DATE 1 Dec 31 Materials Work in Process Factory Overhead Feedback Check My Work DESCRIPTION JOURNAL PAGE 10 Score: 28/37 POST REF DEBIT CREDIT 159,890.00 Increase the work in process for direct materials and factory overhead and decrease materials. Points: 5.3/7 Shade Instructions GenX Furnishings Company manufactures designer furniture. GenX Furnishings uses a job order cost system. Balances on June 1 from the materials ledger are as follows: Fabric Polyester filling Lumber Glue $ 65,160 20.510 146,280 6.250 The materials purchased during June are summarized from the receiving reports as follows: Fabric $337,960 Polyester filling 465,070 Lumber 909,240 Glue 33,520 Materials were requisitioned to individual jobs as follows: Fabric Polyester Filling Lumber Glue Total Job 601 $128,630 $162,960 $403,330 $ 694,920 Job 602 98,660 149.490 378,980 627,130 Job 603 92,310 119,510 205,160 416,980 Factory overhead-indirect materials $35.600 35.600 Total $319,600 $431,960 $987,470 $35,600 $1,774,630 Chart of Accounts CHART OF ACCOUNTS GenX Furnishings Company General Ledger ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 560 Depreciation Expense-Factory 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Utilities Payable LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary HOLCT TOIS Instructions Final Question Chart of Accounts Journal Final Question c. Determine the June 30 balances that would be shown in the materials ledger accounts. Balance June 30 Fabric Polyester Filling Lumber Glue