Prepare summary Journal entries to record the following transactions for a company In Its first month of operations. a. Raw materlals purchased on account, $116,000. b. DIrect materlals used In production, $46,000. Indirect materlals used in production, $20,600. c. Pald cash for factory payroll, $55,000. Of thls total, $41,000 Is for direct labor and $14.000 Is for Indlrect labor. d. Pald cash for other actual overhead costs, $9,250. e. Applied overhead at the rate of 120% of direct labor cost. f. Transferred cost of Jobs completed to finished goods, $85,600. g. Sold Jobs on account for $123,000 g/2). The jobs had a cost of $85.600 grt. View transaction list Journal entry worksheet Record raw materials purchased on account Note: Enter debits before credits Transaction General Journal DebitCredit Record entry Clear enty View genral joumal