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Prepare journal entries to record the following transactions: 1. Issued $15,000 of raw materials inventory...

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Accounting

Prepare journal entries to record the following transactions: 1. Issued $15,000 of raw materials inventory to work in process inventory. 2. Applied overhead to the production process on the basis of 120% of $75,000 direct labor costs. 3. Sold $10,000 of finished goods to a customer.

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