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Journal entry to close overhead: At the end of the year the Overhead account has debits totaling $12,700 and credits totaling $10,200. Inventory accounts at year end have the following balances: - Raw Materials: $15,880 - Work in Process: $14,710 - Finished Goods: $17,210 - Cost of Goods Sold: $57,370 The company is about to do the journal entry to close out the Overhead account. They consider any amount of over/under-applied overhead to be Material. Enter the dollar amounts of this journal entry below. Instructions for entering your answer: - Input code: 0 - For any intermediate calculations, use enough precision so that your final answers do not change when adding additional precision to rounding - If your journal entry is out of balance by $1 due to rounding. you will not be marked wrong if the values entered are within the $1 margin of error - do not be concerned that your journal entry is technically $1 off in this situation - If an account shouldn't be debited OR credited, enter zeros for both the debit and the credit - If an account should only be debited, enter the amount for the debit AND a zero for the credit - If an account should only be credited, enter the amount for the credit AND a zero for the debit - All input boxes should have a value entered (even if just a zero) before submitting your answer Joumal entry to close overhead

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