Recording materials transactions LO 3 Prepare a journal entry to record each of the following materials transactions:
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Recording materials transactions LO3 Prepare a journal entry to record each of the following materials transactions:
a. Total materials purchased on account during the month amounted to $200,000.
b. Direct materials requisitioned for the month totaled $175,000.
c. Indirect materials requisitioned during the month totaled $12,000.
d. Direct materials returned to the storeroom from the factory amounted to $2500.
e. Total materials returned to vendor during the month amounted to $800
f. Payment during the month for materials purchases totaled $160,000.
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