The Russell Company has an extensive job-costing facility that uses a variety of metals. Consider each requirement independently. Q. The scrap from Job 372 consists of a metal used by many other jobs. No record is maintained of the scrap generated by individual jobs. Assume that scrap is accounted for at the time of its sale. Scrap totaling $4,500 is sold. Prepare two alternative journal entries that could be used to account for the sale of scrap.

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A: The journal entries are prepared to record the transactions on regular basis. The work in process…

Q: Auto Safe's job cost sheet for Job A40 shows that the total cost to add security features to a car…

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A:

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A: 1. Prepare the journal entry to record the scrap generated.

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