The following are the job cost related accounts for the law firm of Cullumber Associates and their manufacturing equivalents: Law Firm Accounts Supplies Salaries and Wages Payable Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Manufacturing Firm Accounts Raw Materials Factory Wages Payable Manufacturing Overhead Work in Process Cost of Goods Sold Cost data for the month of March follow. 1. Purchased supplies on account $1,520. 2. Issued supplies $1,020 ( 60% direct and 40% indirect). 3. Assigned labor costs based on time cards for the month which indicated labor costs of $58,800 (80\% direct and 20% indirect). 4. Operating overhead costs incurred for cash totaled $33,600. 5. Operating overhead is applied at a rate of 90% of direct labor cost. 6. Work completed totaled $63,000. Determine the balance of the Service Contracts in Process account. Balance of Service Contracts in Process account $ Journalize the transactions for March. (List all debit entries before credit entries. Credit account titles are automatically indented amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Accounts Payable 2. Service Contracts in Process Operating Overhead 3. Service Contracts in Process Service Salaries and Wages 4. Operating Overhead Cash 5. Service Contracts in Process Operating Overhead 6. Cost of Completed Service Contracts Service Contracts in Process