Lone Company Trial Balance: Account Title: Debit: Credit: Cash $18,000 Accounts Recievable 165,000 Inventories: Materials 5700 Work in process 42500 Finished goods 22200 Plant assets 200,000 Accumulated depriciation 71,000 Accounts payable 133,000 Wages Payable 1500 Common stock 140,000 retained earnings 107,900 Sales Revenue Cost of goods sold Manufacturing overhead Marketing & general expenses Total 453,400 453,400 April balances in subsidiary ledgers: - Materials subledger: paper, $4,500; indirect materials, $1200. -Work in process: Job 120, $42,500; Job 121 $0. - Finished goods: Large stars, $9300; small stars, $12,900. April Transactions: a- Collections on account $141,000 b- Marketing & general expenses incurred & paid $31,000 c- Payments on account $41,000 d- Materials purchased on credit: Paper $23,000; Indirect materials $4,200 e- Materials used in production (requisitioned): Job 120 - paper $500; Job 121 - paper $7,700 f- Wages incurred & assigned during April, $43,000. Labor time records for the month: job 120, $3500; job 121, $16,600; indirect labor $22,900. g- wages paid in April include: the balance in the wages payable account for March 31 & $40,300 of wages incurred in April. h- depriciation of plant & equiptment $3,200 i - Manufacturing overhead was allocated at a predetermined rate of 80% of direct labor cost. j- Jobs completed during the month: job 120. 500,000 large stars at total cost of $49,300. k- Credit sales on account: all of job 120 for $133,000 l- closed the manufacturing overhead account to cost of goods sold. 1. Journalize the transactions for the company. Lone uses a perpetual inventory system. (record debits first then credits) Begin with transaction (a), collections on account $141,000