Porter Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Porter’s transactions during September 2019:

Sept. 5 Received materials costing \($4,500\) from a supplier. The materials were purchased on account.

9 Requisitioned \($10,500\) of materials for use in the factory, consisting of \($8,400\) of direct materials and \($2,100\) of indirect materials.

11 Recorded the factory payroll: \($21,000\) of direct labor and \($3,000\) of indirect labor.

17 Incurred various overhead costs totaling \($22,500\). (Credit Accounts Payable.)

20 Applied \($31,500\) of manufacturing overhead to the products being manufactured.

23 Completed product costing \($25,500\) and moved it to the warehouse.

26 Sold goods with a product cost of \($6,000\) on account for $8,000.

Required

a. Setup aT-account for the following four accounts and post the September 1, 2019, balance listed after the account title: Materials Inventory, $8,000; Work-in-Process Inventory, $26,000; Finished Goods Inventory, $11,000; and Cost of Goods Sold, $32,000.

b. Record the transactions listed above in general journal form, post relevant portions to the four T-accounts, and balance the four accounts.