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Just need some help on this please! I will rate! Many thanks and God bless!!! S17-2 (similar to) Question Help Sport Packs manufactures backpacks. Its
Just need some help on this please!
I will rate!
Many thanks and God bless!!!
S17-2 (similar to) Question Help Sport Packs manufactures backpacks. Its plant records include the following materials-related data: 5 Click the icon to view the transactions.) Journalize the entries to record the transactions, post to the Raw Materials Inventory account, and determine the ending balance in Raw Materials Inventory Journalize the entries to record the transactions. Begin by recording the journal entry for the purchases of materials. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Accounts Debit Credit 65,700 Raw Materials Inventory Accounts Payable 65,700 Data Table Now record a single journal entry for the materials used. Date Accounts Debit Credit 58,000 $ 38,000 Work-in-Process Inventory Manufacturing Overhead Raw Materials Inventory 300 65,000 58,300 700 Raw Materials Inventory, beginning balance Purchases of canvas, on account Purchases of sewing machine lubricating oil, on account Material requisitions: Canvas Sewing machine lubricating oil Post these transactions to the Raw Materials Inventory account and determine the ending balance in Raw Materials Inventory. 58,000 300 Raw Materials Inventory Print Done Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All CheckStep by Step Solution
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