The Parker Company has an extensive job-costing facility that uses a variety of metals Consider each requirement independenty Read the requirements Requirement 1. Job 372 uses a particular metal alloy that is not used for any other job. Assume that scrap is material in amount and sold for $460 quickly after it is produced Prepare the joumat entry Racard debts test, then od Exclude explanations from any journal entries) Journal Entry Accounts Debit Credit Read the o Requirent 1. Job 372 uses a particular metal alloy that is not used for any other job. Assume that scrap is material in amount and sold for $400 quickly after it is produced Prepare the journal entry 2. The scrap from Job 372 consets of a metal used by many other jobs No record is maintained of the scrap generated by individual jobs Assume that scrap is accounted for at the time of its sale. Scrap totaling $4,100 sold Prepare two alternative journal entries that could be used to account for the sale of scrap Exclude e 3. Suppose the scrap generated in requirement 2 is returned to the storeroom for future use, and a journal entry is made to record the scrap. A month later, the scrap is reused as direct material on a subsequent job Prepare the journal entries to record these transactions