Problem - The post-closing trial balance of Hokie Manufacturing Co. on April 30 is reproduced as follows:

Hokie Manufacturing Co.  Post-Closing Trial Balance April 30, 2013

Cash 25000

Accounts Receivable 65000

Finished Goods 120000

Work in Process 35000

Materials 18000

Building 480000

Accumulated Depreciation-Building 72000

Factory Equipment 220000

Accumulated Depreciation-Factory Equipment 66000

Office Equipment 60000

Accumulated Depreciation-Office Equipment 36000

Accounts Payable 95000

Capital Stock 250000

Retained Earnings 504000

1,023,000 1,023,000

During May, the following transactions took place:

a. Purchased raw materials at a cost of $45,000 and general factory supplies at a cost of $13,000 on account (recorded materials and supplies in the materials account)

b. Issued raw materials to be used in production, costing $47,000, and miscellaneous factory supplies costing $15,000

c. Recorded the payroll, the payments to employees, and the distribution of the wages and salaries earned for the months as follows: factory wages (including $12,000 indirect labor) $41,000; and selling and administrative salaries, $7000. Additional account titles include Wages Payable and Payroll (ignore payroll withholdings and deductions)

d. Recognized depreciation for the month at an annual rate of 5% on the building, 10% on the factory equipment, and 20% on the office equipment. The sales and administrative staff uses approximately one-fifth of the building for its offices.

e. Incurred other expenses totaling $11000. One-fourth of this amount is allocable to the office function

f. Transferred total factory overhead cost to Work in Process.

g. Completed and transferred goods with a total cost of $91,000 to the finished goods storeroom

h. Sold goods costing $188,000 for $362,000. (Assume that all sales were made on an account)

i. Collected accounts receivable in the amount of $345,000

j. Paid accounts payable totaling $158,000

Required: Prepare journal entries to record transactions.