A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory 26, 100 101, 100 Beginning Purchases Debit View transaction list Ending 26,700 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. Journal entry worksheet < 1 2 3 Record direct materials used. Note: Enter debits before credits. Transaction 2 Credit General Journal 84,480 Direct materials used 16,100 Indirect materials used Debit Credit

A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory 26, 100 101, 100 Beginning Purchases Debit View transaction list Ending 26,700 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. Journal entry worksheet < 1 2 3 Record direct materials used. Note: Enter debits before credits. Transaction 2 Credit General Journal 84,480 Direct materials used 16,100 Indirect materials used Debit Credit

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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