Which accounts should be credited or debited using journal entries? June 4 Purchased indirect materials on account from Kraftsman Air and Gas and charged the items to Manufacturing Overhead (185). The net invoice cost is $300. Kraftsman Air& Gas extends credit terms of 2/15, n/30. June 5 JOB 29 was delivered to customer Edward Kerry. A cashier's check for $8,742.00 was received at the delivery site. When JOB 29 was completed on June 1, a debit to the Cost of Goods Sold and a credit to Raw and In- Process Inventory was made for $5,824.80. Record the cash-sale entry. June 5 Received a statement from the Hoosier Hornet for a large pictorial Advertisement placed in the Hornet on June 1. A check was issued for $340.00 as payment in full. June 5 Received a cash dividend of $.50 (50 cents) per share on the 10,000 shares of JL Software, Incorporated common stock held as a short-term investment. June 6 A check was issued to pay the cash dividend declared of $.60 (sixty cents) per share to all June 1 stockholders of record. The dividend was declared on May 15 and is payable today. Summerset Fencing has 25,000 common shares outstanding. ow transcribed image text