Midnight Sun Apparel Company uses normal costing, and manufacturing overhead is applied to work-in-process on the basis of machine hours. On January 1 of the current year, there were no balances in work-in-process or finished-goods inventories. The following estimates were included in the current year's budget. Total budgeted manufacturing overhead Total budgeted machine hours $ 282,000 47,000 During January, the firm began the following production jobs: A79: 1,000 machine hours N08: 2,500 machine hours P82: 500 machine hours During January, job numbers A79 and N08 were completed, and job number A79 was sold. The actual manufacturing overhead incurred during January was $26,000. 5. Prepare a journal entry to prorate the balance calculated in requirement 3 among the Work-in-Process Inventory, Finished-Goods Inventory, and Cost of Goods Sold accounts. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)