Preston \& Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the Packing Department, where packaging is added at the beginning of the process. On July 1, Preston \& Grover Soap Company had the following inventories: Departmental accounts are maintained for factory overhead, which both have zero balances on July 1. Manufacturing operations for July are summarized as follows: c. Labor used: Direct labor-Making Department Direct labor-Packing Department Indirect labor-Making Department Indirect labor-Packing Department d. Depreciation charged on fixed assets: Making Department Packing Department e. Expired prepaid factory insurance: Making Department Packing Department f. Applied factory overhead: Making Department Packing Department $95,440 64,420 18,480 33,130 $17,420 14,390 $3,300 1,320 $45,540 50,320 $275,350 $433,360 $434,940 1. Journalize the entries to record the operations, identifying each entry by letter. If an amount box does not require an entry, leave it blank. Compute the July 31 balances of the inventory accounts