There's 26 Journal Entries total and label if debit or credit
Ingrons Murson Co. uses a job order cost system. The following data summarize the operations related to production for July July 1 2 31 31 Materials purchased on account $225,750. Materials requisitioned. $217.800, of which $17,000 was for general factory use. Factory labor used, $480,000, of which $72,300 was indirect. Other contes incurred on account for factory overhead. $330,000, seling expenses, 5180,000: and administrative expenses. $126.000. Prepaid expenses expired for factory overhead were $27.500 for selling expenses, S8, 100, and for administrative expenses. 55.250. Depreciation of office building was $44.500 of office equipment, 316.800: and of factory equipment, 555.100 Factory overhead costs applied to jobs. $548,000. Jobs completed. 51.140.000 cost of goods soid. 51.128.000. 31 31 31 Required: Joumalize the entries to record the summanzed operations Refer to the Chart of Accounts for exact wording of account titles CHART OF ACCOUNTS Munson Co. General Ledger REVENUE 410 Sales 810 Interest Revenue ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 128 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Office Building 191 Ofice Equipment 102 Accumulated Deprecation-Buildings and Equipment EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 581 Depreciation Expense-Office Building 582 Deprecation Expense-Office Equipment 500 Miscellaneous Expense 710 Interest Expense UABILMES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 241 Lease Payable 251 Wages Payable 252 Consultant Fees Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary DEBITI POST REF JOURNAL DESCRIPTION DATE