Larned Corporation recorded the following transactions for the just completed month. 1. $74,000 in raw materials were purchased on account. >. $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. Total labor wages of $115,500 were paid in cash. Of this amount, $101,200 was for direct labor and the remainder was for indirect labor. 1. Depreciation of $194,000 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 at Journal entry worksheet $74,000 in raw materials were purchased on account Note Enter debits before credits Transaction General Journal Debit Credit Hecord entry Clear entry View general Journal