Journal entry worksheet (1) 2 3 4 Note: Enter debits before credits. Custom Cabinetry hos one job in process (Job 120) as of June 30 ; at that time, its job cost sheet reports direct materials of $6,900. direct labor of $4,000, and opplied overhead of $3,400. Custom Cabinetry applies overtheod at the rate of 85% of direct labor cost. During July, Job 120 is sold fon credity for $28,000, Job 121 is started and comploted, and Job 122 is started and still in process at the end of July. Custom Cabinetry incurs the following costs during July. 1. Prepare joumal entries for the following July transactions and events a through a. a. Oirect materials used. b. Oirect labor used. c. Overhesd applied. d. Sale of Job 120 e. Cost of goods sold for Job 120. Hint Job 120 has costs from June and July. 2. Compute the July 31 balances of the Work in Process inventory and the Finished Goods Inventory accounts. (it)ere were no jobs in Finished Goods inventory at June 30) Complete this question by entering your answers in the tabs below. Prepare joumal entries for the following July transactions and events a through e. Journal entry worksheet Prepare journal entries for the following July transactions and events a through e. Journal entry worksheet (1) 5 Record the application of overhead to work in process. Note: Enter debits before credits