Use lean accounting to prepare journal entries for the following transactions 1. Purchased $23.500 of raw materials on credit. 2. Applied conversion costs of $68,500. 3. Incurred actual conversion costs of $68,500. Hint: Credit "Various Accounts." 4. Sold $130,000 of goods on credit. 5. Recorded cost of goods sold of $100.000. View transaction list Journal entry worksheet