The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead (a) 370,000 (b) 310,000 Bal. 60,000 Work in Process Bal. 6,000 (c) 440,000 220,000 54,000 (b) 310,000 Bal. 150,000 Finished Goods Bal. 60,000 (d) 220,000 (c) 440,000 Bal. 280,000 Cost of Goods Sold (d) 220,000 The overhead that was applied to work in process during the year is distributed among the ending balances in the accounts as follows: Work in process, ending $ 60,000 Finished goods, ending 150,000 Cost of goods sold 100,000 Overhead applied $ 310,000 For example, of the $150,000 ending balance in work in process, $60,000 was overhead that had been applied during the year. Required: Assume that the company closes any balance in the manufacturing overhead account directly to cost of goods sold. Prepare the necessary journal entry. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.