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A manufacturers Raw Materials Inventory account appears as follows: Raw Materials Inventory Debit Credit Beginning 25,000 Purchases 100,000 80,000 Direct materials used 15,000 Indirect materials
A manufacturers Raw Materials Inventory account appears as follows: Raw Materials Inventory Debit Credit Beginning 25,000 Purchases 100,000 80,000 Direct materials used 15,000 Indirect materials used Ending 30,000 All raw materials purchases are made on credit. Prepare journal entries to record the: 1. Purchase of raw materials. 2. Direct materials used. 3. Indirect materials used.
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