Specify the journal entry of the below manufacturing transactions under the process cost system Purchase of raw material for $43,000 * Debit raw material and credit cash Debit raw material and credit accounts payable Debit raw material and credit accounts receivable None of the options .......... Assign $25,000 of labor to the work divided equally between two production departments (A & B) * Debit work-in-process $25,000 & credit factory labor $25,000 Debit work-in-process (department A) $12,500 and work-in-process (department B) $12,500 & credit factory labor $25,000 Debit work-in-process $12,500 and manufacturing overhead $12,500 & credit factory labor $25,000 None of the options ..... Accrued office rent $3,500 * Debit work-in-process and credit rent payable Debit manufacturing overhead and credit rent payable Debit rent expense and credit rent payable None of the options ...... Sold completed job with a cost of $24,000 * Debit finished goods and credit work-in-process Debit work-in-process and credit finished goods Debit cost of goods sold and credit finished goods None of the options