Recording Materials Transactions Broadwell Manufacturing Co. maintains the following accounts in the general ledger: Materials, Work in Process, Factory Overhead, and Accounts Payable. On July 1,the materials account had a debit balance of $10,000. Following is a summary of materials transactions for the month of July: a. Prepare journal entries to record the materials transactions 1. Materials purchased, on account, $35,750 2. Direct materials.reguisitioned to production, S29,250