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Goldenrod Company makes artificial flowers and reports the following data for the month. E: (Click...

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Accounting

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Goldenrod Company makes artificial flowers and reports the following data for the month. E: (Click the icon to view the data.) Journalize the entries relating to materials and labor. (Record debits first, then credits. Exclude explanations from journal entries.) Begin by journalizing the entry for the purchase of materials on account. Date Accounts Debit Credit x Data Table GA 54,000 Purchases of materials, on account Materials requisitions: Direct materials 45.100 Next, journalize the entry to record raw materials used in production. Indirect materials 200 Date Accounts Debit Credit Labor incurred (not yet paid) Direct labor Indirect labor 19.500 1,940 Print Done Finally, journalize the entry to record the labor incurred in production but not yet paid. Date Accounts Debit Credit Accounts Accounts Payable Accounts Receivable Cash i Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Raw Materials Inventory Sales Revenue Wages Payable Work-in-Process Inventory

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