Journal entries Summer Shade installs awnings on residential and commercial structures. The company had the following transactions for February: Purchased $790,000 of building (raw) material on account. Issued $570,000 of building (direct) material to jobs. Issued $120,000 of building (indirect) material for use on jobs. Accrued wages payable of $874,000, of which $794,000 could be traced directly to particular jobs. Applied overhead to jobs on the basis of 55 percent of direct labor cost. Completed jobs costing $1,046,000. For these jobs, revenues of $1,342,000 were collected. Journalize the above transactions. Note: Record any multiple debits or any multiple credits in alphabetical order by account name. Credit Debit 790000 0 0 790000 570000 0 0 570000 Account 1 Raw Material Inventory Accounts Payable To record raw materials purchased on account 2 Work in Process Inventory Raw Material Inventory To record the direct materials issued 3 Manufacturing Overhead Raw Material Inventory To record the indirect materials issued 4 Manufacturing Overhead Work in Process Inventory Wages Payable To record labor costs 120000 0 120000 0 40000 x 0 0 80000 X 0 874000