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possible Chic Accessories and More makes custom handbags and accessories for high - end clothing boutiques. Record summary journal entries for each of the following
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Chic Accessories and More makes custom handbags and accessories for highend clothing boutiques. Record summary journal entries for each of the following transactions that took place during the month of March, the first month of the fiscal year.
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During March, $ of raw materials was purchased on account. Record debits first, then credits. Exclude explanations from any journal entries. Journal Entry
tableAccounts,Debit,CreditRaw Materials Inventory,Accounts Payable,,
During the month, $ of raw materials was requisitioned. Of this amount, $ was traced to specific jobs, while the remaining materials were for general factory use.
tableJournal Entry,Accounts,
Manufacturing labor both direct and indirect for the month totaled $ It has not yet been paid. Of this amount, $ was traced to specific jobs.
The company recorded $ of depreciation on the plant building and machinery, In addition, $ of prepaid property tax expired during the month. The company also received the plant utility bill for $ which will be paid at a later date
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