Forest Components makes aircraft parts The following transactions occurred in July 1. Purchased $16,880 of materials on account 2 Issued $16,740 in direct materials to the production department 3 Issued $1,310 of supplies trom the materials inventory 4 Paid for the materials purchased in transaction (1) using cash 5. Retuned 52 010 of the matenals issued to production in (z) to the materials inventory 6 Direct labor employees eamed $31,300, which was paid in cash 7 Paid $17,390 for miscellaneous items for the manufacturing plant Accounts Payable was credted 8 Recognized depreciation on manufacturing plant of $35,200 9 Applied manufacturing overhead for the month year wouid be $434,000 Estimated overhead for the year was $412.300 The following balances appeared in the inventory accounts of Forest Components for July BeginninglEnding Materials Invesy Work is Process Inventory Finished Goods Inventory Cost of Gosds Sold 10,60 2 7Y0 3. 900 Required: a. prepare journM entries to Ord these, transactons or nentry is requarea eor a transsees'evens, t.ieet ,.No rourna, entry required., the nrst account neid.) General Jourmal Materials inverory