Larned Corporation recorded the following transactions for the just completed month. $74,000 in raw materials were purchased on account. $72,000 in raw materials were used in production. Of this amount, $57,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $122,000 were paid in cash. Of this amount, $104,000 was for direct labor and the remainder was for indirect labor. Depreciation of $195,000 was incurred on factory equipment.

Required:

Record the above transactions in journal entries.

General Ledger                           Debit             Credit

a. Raw Material                            74,000

    Accounts Payable                                         74,000

b. Work in progress                    57,000

    Manufacturing overhead       15,000

    Raw Material                                                    72,000

c. Work in progress                    104,000

    Manufacturing overhead        18,000

    Salaries & Wages Payable                               122,000

d. Manufacturing overhead          195,000

    Accumulated depreciation                               195,000  

Explanation:

ok this has nothing to do with business

answer; property tax payment made in july and december;