Please indicate which accounts and financial statements were affected by the incorrect entries. BE SPECIFIC

During routine checking of all journal entries prior to preparing year-end reports, Stephanie Holder discovered several strange entries. She recalled that the president's daughter, Princess, had come in to help during an especially busy time and that she had recorded some journal entries. Stephanie was relieved that there was only a few of Princess' entries She is also relieved that Princess had included rather lengthy explanations. Princess recorded the entries below, along with explanations: a. Raw Materials used in Production 25,000 Cash 25,000 (This transaction is for the purchase of materials, on account, to be added to the item being produced.) b. Work-in-Process 12,000 Payroll Payable 12,000 (This entry is for salaries paid to the maintenance workers in the factory. There was no account called Payroll Expense. Therefore, since they workers work in the factory, I debited "WIP.") c. Manufacturing Overhead 120,000 Accrued Payroll 120,000 (This is the payroll related to the sales force and the factory general manager. One-third of the total relates to the factory general manager.) d. Depreciation Expense 36,000 Accumulated Depreciation 36,000 (This entry is for depreciation expense on ALL equipment for the company. About 25% of the equipment is used in the administrative offices. The remainder of the equipment is in the factory) b. For each transaction, indicate what accounts, financial statement(s), etc., were affected by the erroneous entry. BE SPECIFIC