= Homework: Chapter ... Question 4, E19-34 (simi... Part 1 of 5 HW Score: 0%, 0 of 40 points Points: 0 of 10 Save The Pierce Company has an extensive job.costing facility that uses a variety of metals. Consider each requirement independently Read the requirements Requirement 1. Job 372 uses a particular metal alloy that is not used for any other job Assume that scrap is material in amount and sold for S500 quickly after it is produced Prepare the journal entry (Record debits first thon credits Exclude explanations from any journal ontos ) Journal Entry Accounts Debit Credit 1 Requirements 1. Job 372 uses a particular metal alloy that is not used for any other job Assume that scrap is material in amount and sold for $500 quickly after it is produced. Prepare the journal entry 2. The scrap from Job 372 consists of a metal that can be used by many other Jobs No record is maintained of the scrap generated by individual jobs Scrap is accounted for at the time of its salo Scrap totaling $4,500 is sold Prepare two alternative journal entries that could be used to account for the sale of scrap 3. Suppose the scrap generated in requirement 2 is returned to the storeroom for future uso, and a journal entry is made to record the scrap A month lator the scrap is roused as direct material on a subsequent job Prepare the journal entries to record these transactions Hel Clear all Check