Homework Answers
Solution:
| Journal Entries | |||
| Event | Particulars | Debit | Credit |
| a | Factory overhead Dr ($4,000*80%) | $3,200.00 | |
| Administrative expenses Dr ($4,000*20%) | $800.00 | ||
| To Cash | $4,000.00 | ||
| (To record payment of insurance) | |||
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