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Larned Corporation recorded the following transactions for the just completed month. a. $73,000 in raw materials were purchased on account. b. $71,000 in raw materials
Larned Corporation recorded the following transactions for the just completed month. a. $73,000 in raw materials were purchased on account. b. $71,000 in raw materials were used in production of this amount $60,000 was for direct materials and the remainder was for indirect materials c. Total labor wages of $123,000 were paid in cash Of this amount, $103,000 was for direct labor and the remainder was for indirect labor. d. Depreciation of $193,000 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.) Journal entry worksheet $73,000 in raw materials were purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet Total labor wages of $123,000 were paid in cash. Of this amount, $103,000 was for direct labor and the remainder was for indirect labor. Note: Enter debits before credits. General Journal Debit Credit Transaction C. Record entry Clear entry View general journal Journal entry worksheet Depreciation of $193,000 was incurred on factory equipment. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal
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