Proctor Company has a production process that involves three processes. Units move through the processes in this order: cutting, stamping, and then polishing. The company had the following transactions in November:

Prepare the journal entries for Proctor Company:

1) Cost of units completed in the Cutting Department, $ 17,000

2) Cost of units completed in the Stamping Department, $28,000

3)Cost of units completed in the Polishing Department, $34,000

4) Sales on account, $ 70,000

5)Cost of goods sold is 80% of sales