Check my work 1 Exercise 3-1 Prepare Journal Entries [LO3-1] 20 Larned Corporation recorded the following transactions for the just completed month. points $80,000 in raw materials were purchased on account. b. $78,000 in raw materials were used in production. Of this amount, $66,000 was for direct materials and the remainder was for indirect materials. eBook Total labor wages of $117,000 were paid cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor d. Depreciation of $193,000 was incurred on factory equipment. Hint Required: Record the above transactions the first account field.) journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in Print References View transaction list Journal entry worksheet 1 4 2 3 $80,000 in raw materials were purchased on account