Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 721 pounds of PVC at $42 per pound. On October 9, Schmidt's production department used 721 pounds of PVC for the 781 units of XV-1 it manufactured. Required: Prepare the journal entries to record the purchase and usage of PVC during October. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of PVC. Note: Enter debits before credits. Date General Journal Debit Credit Oct 07 Record entry Clear entry View general journal Journal entry worksheet