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Larned Corporation recorded the following transactions for the just completed month. a. $88,000 in raw...

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Accounting

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Larned Corporation recorded the following transactions for the just completed month. a. $88,000 in raw materials were purchased on account. b. $86,000 in raw materials were used in production of this amount, $78,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $122,500 were paid in cash. Of this amount, $103,800 was for direct labor and the remainder was for indirect labor d. Depreciation of $195,000 was incurred on factory equipment. Required: Record the above transactions in journal entries. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 2 3 4 $88,000 in raw materials were purchased on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet

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