Homework Answers
Answer : Debit to Raw Material $54000
As Journal entry for purchase will be as
| Date | Account | Debit | Credit |
| Raw material | $54,000 | ||
| Accounts payable or Cash | $ 54,000 | ||
| (To Record purchase of raw material) |
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of $73,000 of raw materials was requisitioned from the storeroom
for use in production. These requisitioned raw materials included
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Required:
Prepare journal entries to record the purchase of materials and
their use in production. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field.)
Journal entry worksheet 2...
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