Perfecto Products uses a JIT management system to manufacture trading pins. The standard cost per pin is

$$1$ for direct materials and $$4$ for conversion costs. Last month, Perfecto recorded the following data:

Use JIT costing to prepare journal entries for the month, including the entry to adjust the Conversion Costs

account. $($Record debits first, then credits. Exclude explanations from journal entries.$)$

Journalize the purchase of raw materials.