In January, Knox Company requisitions raw materials for production as follows: Job 1 $931, Job 2 $1,700, Job 3 $762, and general factory use $628. Prepare a summary journal entry to record raw materials used.

Utilize Template provided in attached document.

List Of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Cash Cost of Completed Service Contracts Cost of Goods Sold Depreciation Expense Employer Fringe Benefits Payable Employer Payroll Taxes Payable Factory Labor Factory Wages Payable Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Property Taxes Raw Materials Inventory Salaries and Wages Expense Salaries and Wages Payable Sales Service Contracts in Process Supplies Utilities Payable Work in Process Inventory

In January, Knox Company requisitions raw materials for production as follows: Job 1 $931, Job 2 $1,700, Job 3 $762, and general factory use $628. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Jan. 31 Click if you would like to Show Work for this question: Credit