Question $16(6$ points$)$

Create the journal entries for the following transactions $($ignore descriptions$)(6$

points$)$:

Mar. $1-$ Raw Materials of $$250,000$ purchased on account

Mar. $25-$ Transferred $$100,000$ materials to factory floor $($$$75,000$ of direct,

$$25,000$ indirect$)$

Mar. $31-$ Job $201($cost of $$200,000)$ and job $202($cost of $$50,000)$ completed

Use the 'Debit $-[$Account$],[$Amount$],$ Credit $-[$Account$],[$Amount$]\text{'}$ formula $($IE $-$

Debit $-$ Cash, $2400$; Credit $-$ Service Revenue $2400.).$

Blank $1-$ March $1$ entry

Blank $2-$ March $25$ entry

Blank $3-$ March $31$ entry

A

A

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