Sport Packs manufactures backpacks. Its plant records include the following materials-related data: Raw Materials Inventory, beginning balance: $35,000. Purchases of canvas, on account: 67,000. Purchases of sewing machine lubricating oil, on account: 1,100. Material requisitions: Canvas: 64,000. Material requisitions: Sewing machine lubricating oil: 200. On an Excel, complete the following: 1. Journalize the entries to record the transactions, post to the Raw Materials Inventory account, and determine the ending balance in the Raw Materials Inventory. 2. Journalize the entries to record the transactions. Begin by recording the journal entry for the purchases of materials. Record debits first, then credits. Include the explanation in the last line of the journal entry table. 3. Now, record a single journal entry for the materials used. 4. Post these transactions to the Raw Materials Inventory account and determine the ending balance in the Raw Materials Inventory