For the year, Willard Company had actual manufacturing overhead of $100,000 and applied manufacturing overhead of $117,000.

Which ONE of the following should be included in the journal entry necessary to close the manufacturing overhead account? Assume that the company chooses the easiest method for the end-of-year closing of the manufacturing overhead account.

• CREDIT to Manufacturing Overhead for $17,000
• CREDIT to Work-in-Process Inventory for $100,000
• CREDIT to Cost of Goods Sold for $17,000
• DEBIT to Cost of Goods Sold for $100,000