4. Peralta Inc. has provided the following information for 2019. Prepare the journal entries to record these transactions.

1. Purchased raw materials on account for $145,000.

2. Issued $115,000 in raw materials to production ($22,000 were not traceable to specific jobs).

3. Incurred $115,000 in direct labor costs (14,375 hours) and $62,500 in supervision costs (paid in cash).

4. Incurred the following additional manufacturing overhead costs: factory lease $24,000 (paid in cash); depreciation on equipment $20,000; custodial supplies $7,500 (paid in cash).

5. Incurred the following nonmanufacturing costs, both paid in cash: advertising $75,000; sales commissions $88,000.

6. Applied manufacturing overhead to jobs in process at a rate of $10 per direct labor hour.

7. Completed jobs costing a total of $345,000.

8. Sold jobs for $425,000 on account. The cost of the jobs was $342,000.

9. Closed the Manufacturing Overhead account balance.