Record the journal entries for the following transactions:March 10: 500 units of raw materials were purchased on account at $6.00 per unit.March 15: 400 units of raw materials were requisitioned at $6.50 per unit for production, Job 872.March 25: 300 units of raw materials were requisitioned at $6.00 per unit for production, Job 879. March 10 fill in the blank 2 fill in the blank 4March 15 fill in the blank 6 fill in the blank 8March 25 fill in the blank 10 fill in the blank 12

Solution:- Preparation of journal entries as follows under:-

Answered: Record the journal entries for the…

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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Record the journal entries for the following transactions:

March 10: 500 units of raw materials were purchased on account at $6.00 per unit.
March 15: 400 units of raw materials were requisitioned at $6.50 per unit for production, Job 872.
March 25: 300 units of raw materials were requisitioned at $6.00 per unit for production, Job 879.

March 10	fill in the blank 2
		fill in the blank 4
March 15	fill in the blank 6
		fill in the blank 8
March 25	fill in the blank 10
		fill in the blank 12

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