Gabrus Company produces a product in two departments: (1) Cooking and (2) Finishing. The company uses a process cost accounting system. Accounting Transactions No. Transactions (A) Purchased $60,000 of raw materials for half cash and the rest on account. Units costing $66,000 were completed in the Cooking Department and were (B) transferred to the Finishing Department. Finished goods costing $59,000 were sold on account for $92,000. (C) (Hint: Pay attention to the journal explanation.) Prepare the journal entries to record the preceding transactions for BNC Company. List debit transactions first and then list credit transactions General Journals Account Titles and No. Debit ($) Credit ($) Explanation (A) [Select Select) Cash Select) Select 1 Select General Journals Debit ($) Credit ($) Account Titles and No. Explanation (A) [Select) [Select) Cash Select) Select) V Select To record purchase of materials (B) Select 1 Select) [Select) Select To record transfer of units to the Finishing Department (C) [Select) [Select) Select 1 Select To record the sale of goods To record purchase of materials (B) Select) (Select [Select Select) To record transfer of units to the Finishing Department (C) Select) [Select Select) Select To record the sale of goods on account Select) v Select) Select [Select To record cost of merchandise sold