Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July:

Instructions Chart of a counts Journal Instructions Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July: July 1 2 31 31 31 Materials purchased on account, $203,940 Materials requisitioned, $191,480, of which $15,530 was for general factory use Factory labor used, $598,400, of which $63,620 was indirect Other costs incurred on account for factory overhead, $290,400; selling expenses, $158,300; and administrative expenses, $110,900 Prepaid expenses expired for factory overhead, $21,310; for selling expenses, $6,250; and for administrative expenses, 57,940 Depreciation of office building was $40,100; of office equipment, $13,500; and of factory equipment, $51,200 Factory overhead costs applied to jobs, $452,240 Jobs completed, S1,003,200 Cost of goods sold, $992,600 31 31 31 31 Required: Journalize 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