16. Densmore Company is a manufacturing company that worked on the following jobs during the...
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16. Densmore Company is a manufacturing company that worked on the following jobs during the month. Total job cost Job No. 356 $ 2,500 Job No. 357 1,200 Job No. 358 1,800 Jobs 356 and 357 were completed and later sold for $5,000. Job 358 is not done as of the end of the month. a) Prepare the Journal Entry(ies) for the completion of Jobs 356 and 357. b) Calculate the ending balance in the Work in Process (WIP) Inventory account (indicate Dr or Cr). c) Prepare the Journal Entry(ies) for the sale of Jobs 356 and 357
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