Sandhill Company purchases $$60,000$ of raw materials on account, and it incurs $$72,000$ of factory labor costs.

Journalize the two transactions on March $31,$ assuming the labor costs are not paid until April. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation Credit

Mar. $31($To record raw materials purchased$)$

$($To record factory labor costs$)$