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Newell Company has a production process that involves three processes. Units move through the processes in this order: cutting, stamping, and then polishing. The company
Newell Company has a production process that involves three processes. Units move through the processes in this order: cutting, stamping, and then polishing. The company had the following transactions in November: 0 (Click the icon to view the transactions.) Prepare the journal entries for Newell Company. (Record debits rst, then credits. Exclude explanations from journal entries.) 1. Cost of units completed in the Cutting Department, $19,000 More info Date Accounts Debit Credit Nov. 30 . Cost of units completed in the Cutting Department, $19,000 Cost of units completed in the Stamping Department, 525,000 Cost of units completed in the Polishing Department, $3l ,000 Sales on account, $30,000 . . . Cost of goods sold is 50% of sales 2. Cost of units completed In the Stamping Department, $25,000 Date Accounts Debit Credit Nov. 30 3. Cost of units completed in the Polishing Department, $31,000 Date Accounts Debit Credit Nov. 30
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