Question: At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at

At year-end, Marshall Enterprise's Factory Overhead account has a credit balance of $5,000, which is not a material amount. What entry should Marshall make at year-end?

Multiple Choice

Debit Factory Overhead $5,000; credit Work in Process Inventory $5,000

No entry is needed.

Debit Factory Overhead $5,000; credit Finished Goods Inventory $5,000.

Debit Cost of Goods Sold $5,000; credit Factory Overhead $5,000.

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