At the End of the Year, Martin Company Has a Preliminary

Multiple Choice

At the end of the year, Martin Company has a preliminary credit balance in the Manufacturing overhead account of $95. Which of the following is the year-end adjusting entry needed to clear the balance to zero?

A) Debit Cost of goods sold $95, credit Finished goods inventory $95
B) Debit Manufacturing overhead $95, credit Finished goods inventory $95
C) Debit Manufacturing overhead $95, credit Cost of goods sold $95
D) Debit Cost of goods sold $95, credit Manufacturing overhead $95