Sydney Cycles Corp. uses a job order cost system. A partial list of teh accounts being maintained by the company, with their balances as of September 1, follows:

Cash.................................................................. $64,250

Materials............................................................ 23,500

Work in process................................................. 31,000

Accounts payable (credit).................................. 29,000

Factory overhead.............................................. none

The following transactions were completed during September:

a. Materials purchases on account during the month, $58,000.

b. Materials requisitionedduring the month:

1. Direct materials, $45,000.

2. Indirect materials, $8,000.

c. Direct materials returned by factory to storeroom during the month, $900.

d. Materials returned to vendors during the month prior to payment, $1,500.

e. Payments to vendors during the month, $51,500.

Required:

1. Prepare general journal entries for each of the transactions.

2. Post the general journal entries into T-accounts.

3. Balance the accounts and report the balances of September 30 for the following:

a. Cash

b. Materials

c. Accounts Payable