Love My Fashion makes custom handbags and accessories for high$-$end clothing boutiques. Record summary journal entries for each of the following transactions that took place during the month of January, the first month of the fiscal year.

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$4.$ The company recorded $$7,200$ of depreciation on the plant building and machinery. In addition, $$3,800$ of prepaid property tax expired during the month. The company also received the plant utility bill for $$4,000$ which will be paid at a later date.

Journal Entry

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Manufacturing overhead was allocated to jobs using a predetermined manufacturing overhead rate of $65\%$ of direct labor cost. $($Hint: Total direct labor cost is found in transaction $3.)$

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Several jobs were completed during the month. According to the job cost records, these jobs cost $$260,000$ to manufacture.

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Sales $($all on credit$)$ for the month totaled $$390,000.$ According to the job cost records, the units sold cost $$242,000$ to manufacture. Assume the company uses a perpetual inventory system.

First, record the sales for the month.