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Larned Corporation bonded the following transactions for the just completed month. a. $77,000 in raw materials were purchased on account b. $75,000 in raw
Larned Corporation bonded the following transactions for the just completed month. a. $77,000 in raw materials were purchased on account b. $75,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $125,000 were paid in cash. Of this amount, $103.800 was for direct labor and the remainder was for indirect labor. d. Depreciation of $191,000 was incurred on factory equipment Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 $77,000 in raw materials were purchased on account. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal
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