Question
On May 7, Jernigan Company purchased on account 530 units of raw materials at $22 per unit. During May, raw materials were requisitioned for production
On May 7, Jernigan Company purchased on account 530 units of raw materials at $22 per unit. During May, raw materials were requisitioned for production as follows: 233 units for Job 200 at $19 per unit and 207 units for Job 305 at $22 per unit.
Journalize the entry on May 7 to record the purchase.
| May 7 |
|
Journalize the entry on May 31 to record the requisition from the materials storeroom.
| May 31 |
]
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International Financial Reporting
Authors: Alan Melville
7th Edition
1292293128, 9781292293127
