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Exercise 15-5 (Algo) Record materials purchase and use LO P1 A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory Debit Credit Beginning
Exercise 15-5 (Algo) Record materials purchase and use LO P1 A manufacturer's Raw Materials Inventory account appears as follows: Raw Materials Inventory Debit Credit Beginning Purchases 26,500 101,500 86,000 Direct materials used 16,500 Indirect materials used Ending 25,500 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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