Question: Wilson company has a production process that involve 3 process. Unit moved through the processes in this order cutting, stamping, polishing. The company had the

Wilson company has a production process that involve 3 process. Unit moved through the processes in this order cutting, stamping, polishing. The company had the following transaction in October 1.

Cost of units completed in the cutting department $17,000

Cost of units completed in the stamping department $30,000

Cost of units completed in the polishing department $35,000

Sales on account $50,000

Cost of goods sold is 80% of sales.

Required: Prepare the journal entries for Wilson Company

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