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there are 10 parts to this question. thank you! Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view
there are 10 parts to this question. thank you!
Journalize the following transactions for Lake's Seats. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,400. Date Accounts Debit Credit a. Accounts Payable Accounts Receivable Accumulated Depreciation-Plant Cash Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Prepaid Insurance Property Tax Payable Raw Materials Inventory Help Me SC Sales Revenue elp a. Incurred and paid Web site expenses, $2.400. Incurred manufacturing wages of $11,000,55% of which was direct labor and 45% of which was b. indirect labor. c. Purchased raw materials on account, $18,000. d. Used in production: direct materials, $5,500; indirect materials, $4,000. Recorded manufacturing overhead: depreciation on plant, $12,000; plant insurance (previously e. paid), $1,800; plant property tax, $3,400 (credit Property Tax Payable), f. Allocated manufacturing overhead to jobs, 160% of direct labor costs. g. Completed production on jobs with costs of $32,000. h. Sold inventory on account, $28,000; cost of goods sold, $12,000. 1. Adjusted for overallocated or underallocated overhead Step by Step Solution
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