help with number 2

3 Exercise 3-1 (Algo) Prepare Journal Entries [LO3-1] Larned Corporation recorded the following transactions for the just completed month. a. $80,000 in raw materials were purchased on account. b. $78,000 in raw materials were used in production. Of this amount, $68,000 was for direct materials and the remainder was for indirect materials. c. Total labor wages of $121,500 were paid in cash. Of this amount, $101,900 was for direct labor and the remainder was for indirect labor. d. Depreciation of $190,000 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.) No 2 3 4 Transaction b. C. d. Raw materials Accounts payable General Journal Work in process Manufacturing overhead Work in process Manufacturing overhead Cash Manufacturing overhead Accumulated depreciation Debit 80,000 101,900 19,600 190,000 Credit 80,000 121,500 190,000