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Use lean accounting to prepare journal entries for the following transactions. Purchased $23,400...

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Accounting

Use lean accounting to prepare journal entries for the following transactions.

  1. Purchased $23,400 of raw materials on credit.
  2. Applied conversion costs of $68,400.
  3. Incurred actual conversion costs of $68,400. Credit Various Accounts.
  4. Sold $129,000 of goods on credit.
  5. Recorded cost of goods sold of $99,000.

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