Tamarisk Inc. is in the corn$-$milling industry but to date has had only enough manufacturing space for one joint process. Tamarisk refers

to its two products as prime products and by$-$products. There is a market for both products, but, as the names imply, the prime

products are what Tamarisk got into business to sell, as the prime products' sales price far exceeds that of the by$-$products. In a typical

production run, which costs $$59,000,$ Tamarisk Inc. produces the following products, which can be sold at the prices shown.

Because Tamarisk's customers $($the corn processors$)$ count on purchasing top$-$quality raw material from Tamarisk, it is important that

the company maintains a steady amount of inventory. For this reason, Tamarisk never completely sells out of its products. For the

current production run, managers plan to sell $80\%$ of each product immediately, holding $20\%$ in inventory to carry into the next period.Record the journal entries to recognize the completion of the products through the sale of both products if the sales method is

used to account for by$-$products. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually.

If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

$($To record completion of products$)$

$($To record sales$)$

$($To record cost of goods sold$)$

$($To record sale of by$-$product$)$