Job order cost system-journal entries
Shown below is a partial list of accounts for Miles Mfg.Co.,followed by a list of transactions.Indicate the accounts that would be debited and credited in recording each transaction by placing the appropriate account numbers in the space provided.The company uses a job order cost accounting system. 
Definitions:
Net Present Value
A financial metric indicating the difference between the present value of cash inflows and the present value of cash outflows over a period of time.
Net Present Value
A method used in finance to calculate the value of a series of future cash flows in today's dollars.
Percentage-of-Completion
An accounting method used to recognize revenues and expenses of long-term contracts as a percentage of work completed during the period.
Revenue Recognition
The accounting principle defining the specific conditions under which revenue is recognized or recorded.
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