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A manufacturer's account appears as follows: Raw Materials Inventory Raw Materials Inventory Debit Credit Beginning 25,200 Purchases 100,200 Ending 29,400 Direct 80,800 materials used 15,200 Indirect materials used All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used.

A manufacturer's account appears as follows: Raw Materials Inventory Raw Materials Inventory Debit Credit Beginning 25,200 Purchases 100,200 Ending 29,400 Direct 80,800 materials used 15,200 Indirect materials used All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A manufacturer's account appears as follows: Raw Materials Inventory Raw Materials Inventory Debit Credit Beginning 25,200 Purchases 100,200 Ending 29,400 Direct 80,800 materials used 15,200 Indirect materials used All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used.
Transcribed Image Text:A manufacturer's account appears as follows: Raw Materials Inventory Raw Materials Inventory Debit Credit Beginning 25,200 Purchases 100,200 Ending 29,400 Direct 80,800 materials used 15,200 Indirect materials used All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used.
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