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Requirements vee of aela Prepare the journal entries for the recognition of scrap, assuming the following: (Record debits first then credits. Exclude explanations from any journal entries.) a. The value of scrap is immaterial and scrap is recognized at the time of sale. d. The value of scrap is material, is recognized as inventory at the time of production, and is recorded at its net realizable value. Prepare the journal entry to record the recognition of scrap. Now prepare the journal entry for the sale of the scrap. Cash or Accounts Receivable Manufacturing Overhead Control Materials Control Scrap Revenues Work-in-Process Control (Job \#22) Requirements at that ine of sale Gerataly