The Fly Company provides advertising services for clients across the nation. The Fly Company is presently working on four projects, each for a different client. The Fly Company accumulates costs for each account (client) on the basis of both direct costs and allocated indirect costs. The direct costs include the charged time of professional personnel and media purchases (air time and ad space). Overhead is allocated to each project as a percentage of media purchases. The predetermined overhead rate is 62% of media purchases. On August 1, the four advertising projects had the following accumulated costs: Vault Bank Take Off Airlines August 1 Balances $268,900 85,300 Sleepy Tired Hotels 216,200 Tastee Beverages Total 117,000 $687,400 During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four During August, The Fly Company incurred the following direct labor and media purchase costs related to preparing advertising for each of the four accounts: Vault Bank Direct Labor Media Purchases $188,400 $704,900 Take Off Airlines 80,900 615,300 Sleepy Tired Hotels 365,800 454,200 Tastee Beverages 430,700 342,600 Total $1,065,800 $2,117,000 At the end of August, both the Vault Bank and Take Off Airlines campaigns were completed. The costs of completed campaigns are debited to the cost of services account. Required: Journalize the four summary entries on August 31 to record each of the following for the month. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit Required: Journalize the four summary entries on August 31 to record each of the following for the month. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. a. Direct labor costs b. Media purchases c. Overhead applied d. Completion of Vault Bank and Take Off Airlines campaigns