Windsor Group provides many of the laminated products that teachers use in their classrooms. Windsor management considers the company to also be quite green, as it captures the small cut-out pieces and sells them to an organization that uses them in its production of plastic tableware. To date, Windsor has treated these cut-outs as a by-product, since it receives a small value for the items upon sale. The quantities and values of both the main laminated products and the small cut-outs, created in a joint process that costs $2,100, are as follows. Both products are sold at the split-off point and not processed further. All sales are on account. Units Produced Sales Value per Unit Main laminated products 2,100 $2 Small cut-outs 340 0.50 Record the same transactions as noted in part (a), but now under the production method of accounting for by-products. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) No. Account Titles and Explanation 1. FG Inventory-Main Product 2. 3. FG Inventory-By-Product WIP Inventory Accounts Receivable Sales (To record sales) COGS (To record cost of goods sold) Accounts Receivable Debit 4200 170 Credit 2100 4200 170 Record the journal entries for the following transactions for Windsor under the sales method of accounting for by-products. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) 1. The completion of all products (main product and by-product). 2. The sale of all the main product. 3. The sale of all the by-product. List of Accounts Accounts Receivable Cash COGS FG Inventory FG Inventory - A FG Inventory - B FG Inventory-By-Product FG Inventory - C FG Inventory - Job ACE FG Inventory - Main Product FG Inventory - Prime RM Inventory Sales WIP Inventory