November:

Prepare the journal entries for Cowan Company. $($Record debits first, then credits. Exclude explanations from journal entries.$)$

Cost of units completed in the Cutting Department, $$20,000$

Cost of units completed in the Cutting Department, $$20,000$

Cost of units completed in the Stamping Department, $$25,000$

Cost of units completed in the Polishing Department, $$36,000$

Sales on account, $$70,000$

Cost of goods sold is $70\%$ of sales