Journal Entries Travis Manufacturing Company uses the perpetual inventory system to record transactions related to its manufacturing inventories. The following transactions occurred during August: Aug. 5 Received $4,500 of materials and components that had been ordered on account. Aug. 7 Recorded the payroll: $3,250 of direct labor and $750 of indirect labor. Aug. 11 Sold on account product costing $1,750 for $2,600. Aug. 16 Completed product costing $8,000 and transferred it to the warehouse. Aug. 20 Requisitioned $3,500 of materials for use in the factory; $2,950 was used as direct materials and the remainder was used as indirect materials. Aug. 25 Applied $5,000 of manufacturing overhead cost to the product currently being worked on. Aug. 29 Paid $200 cash for a special material component that was shipped via overnight delivery. Aug. 31 Sold product costing $500 for $850 cash. Required Prepare general journal entries to record these transactions