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ziro4ka [17]
3 years ago
11

"Marshall Enterprises charged the following amounts of overhead to jobs during the year: $20,000 to jobs still in process, $60,0

00 to jobs completed but not sold, and $120,000 to jobs finished and sold. At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end?"
Business
1 answer:
4vir4ik [10]3 years ago
3 0

Answer:

Given that,

Jobs still in process = $20,000

Jobs completed but not sold = $60,000

Jobs finished and sold = $120,000

Marshall Enterprise's Factory Overhead account has a credit balance of $5,000

Therefore, the journal entry is as follows:

Factory overhead A/c Dr. $5,000

          To Cost of goods sold A/c      $5,000

(To record the cost of goods sold)

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