SSIGNMENT INFORMATION Due Date Wednesday, February 3, 2021 11:59 PM Points Possible 20 20 Exercise 1 Valide Manufacturing transactions: Used materials were inferior to the specifications and all units were classified as scrap. Amount charged to a particular product job was $600. 1Received revenue will be treated as a reduction in manufacturing costs but can't be identified to a partucular job. Estimated revenue for the scrap will be $125, that was sold later for cash. 2Received revenue will be treated as a reduction in manufacturing costs but can't be identified to a particular job. Company didn't estimate revenue for the scrap, that was sold later for $75 cash. 31dentified production as a special order job that will be treated as a reduction in manufacturing costs. Company didn't estimate revenue for the scrap, that was sold later for $85 on account. 4Received revenue will be treated as "Other Income" but can't be identified. Company didn't estimate revenue for the scrap, that was sold later for $40 for cash. Actions to take: 1Prepare the Journal Entries for the four (4) different scenarios.