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Gullett Corporation had $38,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $87,000 of raw materials. The
Gullett Corporation had $38,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $87,000 of raw materials. The journal entry to record the purchase of raw materials would include a:
Multiple Choice - credit to Raw Materials of $87,000
- credit to Raw Materials of $125,000
- debit to Raw Materials of $125,000
- debit to Raw Materials of $87,000
Gullett Corporation had $38,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $87,000 of raw materials. The journal entry to record the purchase of raw materials would include a:
Multiple Choice
- credit to Raw Materials of $87,000
- credit to Raw Materials of $125,000
- debit to Raw Materials of $125,000
- debit to Raw Materials of $87,000
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