Raw Materials Inventory, beginning balance $34,000 Purchases of canvas, on account 70,000 Purchases of sewing machine lubricating oil, on account 900 Material requisitions:   Canvas 61,000 Sewing machine lubricating oil 200 Sport PacksSport Packs manufactures backpacks. Its plant records include the following?materials-related data: Journalize the entries to record the? transactions, post to the Raw Materials Inventory? account, and determine the ending balance in Raw Materials Inventory. Journalize the entries to record the transactions. Begin by recording the journal entry for the purchases of materials. ?(Record debits? first, then credits. Exclude explanations from any journal? entries.)    Date Accounts Debit Credit   Raw Materials Inventory 70,900     Accounts Payable   70,900                         Now record a single journal entry for the materials used. Date Accounts Debit Credit