In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit
In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit
In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit
Transcribed Image Text:In January, Knox Company requisitions
raw materials for production as follows:
Job 1 $976, Job 2 $1,430, Job 3 $728, and
general factory use $634.
Prepare a summary journal entry to record
raw materials used.
Date
Jan. 31
Account Titles and Explanation Debit Credit
Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.
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