Instructions:Record the correct debit(s) and credit(s) for each of the following transactions, selecting the appropriate letter(s) from the list of account titles. a. Finished Goods i. Cash b. Cost of Goods Sold j. Accounts Payable c. Income Summary k. Accumulated Depreciation d. Materials l. Prepaid Insurance e. Payroll m. Accounts Receivable f. Factory Overhead n. Sales g. Work in Process o. Wages Payable h. Selling and Administrative Expenses Transactions Debit Credit 1. Purchased materials on account _______ _______ 2. Returned some of the materials in (1) to the vendor _______ _______ 3. Paid for the remainder of the materials in (1) _______ _______ 4. Issued direct materials and indirect materials from the storeroom _______ _______ 5. Recorded payroll, ignoring payroll deductions _______ _______ 6. Paid the payroll _______ _______ 7. Distributed the payroll, which consisted of direct labor, indirect labor, and sales salaries _______ _______ 8. Recorded depreciation on the building that houses both the factory and the general offices _______ _______