Larned Corporation recorded the following transactions for the just completed month.

1. $74,000 in raw materials were purchased on account.

2. $72,000 in raw materials were used in production. Of this amount, $62,000 was for direct materials and the remainder was for indirect materials.

Record the above transactions in journal entries with the 3 information/topics below.

1) General Journal:

-choices: No journal entry required, accounts payable, accounts receivable, accumulated depreciation, cash, cost of goods sold, depreciation expense, finished goods, manufacturing overhead, raw materials, sales, selling and administrative expenses, wages payable, work in progress

2) Debit

3) Credit