The following are the job cost related accounts for the law firm of Ivanhoe Associates and their manufacturing equivalents: Cost data for the month of March follow. 1. Purchased supplies on account $2,000. 2. Issued supplies $1,380 (60\% direct and 40% indirect). 3. Assigned labor costs based on time cards for the month which indicated labor costs of $75,600 (80\% direct and 20% indirect). 4. Operating overhead costs incurred for cash totaled $43,200. 5. Operating overhead is applied at a rate of 90% of direct labor cost. 6. Work completed totaled $81,000. Determine the balance of the Service Contracts in Process account. Balance of Service Contracts in Process account $ eTextbook and Media List of Accounts Journalize the transactions for March. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)