Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July July 1 Materiais purchased on account, $630,520 2 Materials requisitioned, 5669,000, of which $76,690 was for general factory use 31 Factory labor used, 5644,620, of which $91,400 was indirect 31 Other costs incurred on account for factory overhead, $147,440; selling expenses, $238,240, and administrative expenses, $150,800 31 Prepaid expenses expired for factory overhead, 530,340; for selling expenses, $25,550, and for administrative expenses, 518,210 31 Depreciation of office building was $85,350, of office equipment, 545,280, and of factory equipment, $32,530 31 Factory overhead costs applied to jobs, $374,600 31 Jobs completed, $996,810 31 Cost of goods sold, 5892,790 Required: Journaize the entries to record the summarized operations Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered Journaize the entries to record the summanzed operations. Refer to the chart of accounts for the exact worting of the account is CNOWjournals do not use lines for journal indent a credit entry when a credit amount is entered All transactions on this page must be entered (except for post ref(s) before you will receive Check My Work feedback. PAGE 10 JOURNAL Score: 16/346 ACCOUNTING EQUATION DATE DESCRIPTION POST. RER DEBIT CREDIT ASSETS LIBUTES EQUITY 7 30 11 11 15 14 11 16 11 11 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 132 Work in Process 133 Factory Overhead 134 Accumulated Depreciation-Factory Equipment 135 Finished Goods 141 Supplies 142 Prepaid Insurance 143 Prepaid Expenses 181 Office Building 182 Accumulated Depreciation Office Building 191 Office Equipment 192 Accumulated Depreciation Office Equipment 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Office Supplies Expense 540 Administrative Expenses 561 Depreciation Expense-Office Building 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 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