On May 7, Lockmiller Company purchased on account 12,000 units of raw materials at $6 per unit.
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On May 7, Lockmiller Company purchased on account 12,000 units of raw materials at $6 per unit. During May, raw materials were requisitioned for production as follows: 8,400 units for Job 275 at $6 per unit and 2,150 units for Job 310 at $4 per unit. Journalize the entry on May 7 to record the purchase and on May 31 to record the requisition from the materials storeroom.
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Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
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