Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 38 Required 4 Prepare journal entries to record the transactions for the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. No 1 Transaction Raw materials Accounts payable 2 b. 3 C 4 d Work in process Manufacturing overhead Raw materials General Journal Work in process Manufacturing overhead Sales commissions expense Administrative salaries expense Salaries and wages payable Manufacturing overhead Rent expense Cash c. Manufacturing overhead Accounts payable f. Advertising expence Cash |60|0 00000 Debit 161,000 Credit 161,000 124.000 20,000 144,000 159,000 66,700 29,000 45,000 319,700 13.100 3,700 * 18,800 00 08 14,000 14,000 13,000 13.000 7 g Manufacturing overhead G 17,000- Depreciation expense 7,000 - Accumulated depreciation 0 24,000 h. Work in process 60 365,700 365,700 9 i Manufacturing overhead Finished goods Work in process 30 227,000 227.000 10 j(1). Accounts receivable Sales * 520,000 520,000 11 j(2). Cost of goods sold Finished goods 217,000 217,000

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The following are selected accounts and balances for Mergaronite Company and Hill, Inc., as of December 31, 2021. Several of Mergaronite's accounts have been omitted. Credit balances are indicated by parentheses. Dividends were declared and paid in the same period. Revenues Cost of goods sold Depreciation expense Investment income Retained earnings, 1/1/21 Dividends declared Current assets Land Buildings (net) Equipment (net) es Liabilities Common stock Additional paid-in capital Mergaronite Hill $ (594,000) $ (246,000) 266,000 104,000 NA 106,000 44,000 NA (888,000) (598,000) 140,000 36,000 210,000 696,000 316,000 94,000 510,000 142,000 212,000 240,000 (396,000) (310,000) (292,000) (38,000) (46,000) (922,000) Assume that Mergaronite acquired Hill on January 1, 2017, by issuing 6,600 shares of common stock having a par value of $10 per share but a fair value of $100 each. On January 1, 2017, Hill's land was undervalued by $20,000, its buildings were overvalued by $31,000, and equipment…

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