Inflection Company produces gadgets for the coveted small appliance market. The following data reflect activity for the year 2020: (Click the icon to view the data.) Read the requirements. subsidiary ledger, if any, should be referenced as backup for the entry. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the purchase of direct materials, $123,000. Now select the appropriate source documents and subledgers for the purchase of direct materials. (Only complete the necessary answer boxes.) (1 Requirements 1. Prepare journal entries to record the transactions for 2020 including an entry to close out under- or overallocated overhead to cost of goods sold. For each journal entry indicate the source document that would be used to authorize each entry. Also note which subsidiary ledger, if any, should be referenced as backup for the entry. 2. Post the journal entries to T-accounts for all of the inventories, Cost of Goods Sold, the Manufacturing Overhead Control Account, and the Manufacturing Overhead Allocated Account