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Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials
Larned Corporation recorded the following transactions for the just completed month. a. $89,000 in raw materials were purchased on account. b. $87,000 in raw materials were used in production. Of this amount, $77,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $127,500 were paid in cash. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. d. Depreciation of $192,000 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 2 3 $89,000 in raw materials were purchased on account. Note: Enter debits before credits. Transaction a. General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet 1 2 3 $87,000 in raw materials were used in production. Of this amount, $77,000 was for direct materials and the remainder was for indirect materials. Note: Enter debits before credits. Transaction b. General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet > 1 2 3 4 Total labor wages of $127,500 were paid in cash. Of this amount, $100,200 was for direct labor and the remainder was for indirect labor. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet
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