Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $17,500 $10,600 $30,300 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 36,300 machine-hours and incur $159,720 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were purchased on account: $206,000. b. Raw materials were requisitioned for use in production: $193,000 (80% direct and 20% indirect). c. The following costs were incurred for employee services: Direct labour Indirect labour Sales commissions $162,400 $ 27,600 $ 36,900 Administrative salaries $ 81,200 d. Heat, power, and water costs were incurred in the factory: $43,350. e. Prepaid insurance expired during the year: $11,500 (85% relates to factory operations, and 15% relates to selling and administrative activities). f. Advertising costs were incurred, $51,500. g. Depreciation was recorded for the year: $61,800 (90% relates to factory operations, and 10% relates to selling and administrative activities). h. Manufacturing overhead cost was applied to production. The company recorded 40,600 machine-hours for the year. i. Goods that cost $493,100 to manufacture according to their job cost sheets were transferred to the finished goods warehouse. j. Sales for the year totalled $713,900 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $487,500. Required: 1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)