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3 years ago

Larned Corporation recorded the following transactions for the just completed month.

Business

1 answer:

aksik [14]3 years ago

3 0

Answer:Please see answers in explanation column

Explanation:

Journal entries for Larned Corporation transactions for the just completed month.

a)To record purchase raw material

Account titles Debit Credit

Raw materials inventory $80,000

Accounts payable $80,000

b To record raw material used

Work in process inventory $62,000

Manufacturing overhead $9,000

Raw materials inventory $71,000

C) To record labor paid

Work in process inventory $101,000

Manufacturing overhead $11,000

Cash $112,000

d To record manufacturing overhead

Manufacturing overhead $175,000

Accumulated depreciation-Equipment $175,000

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