Preparation of the Current Account for Balance of Payment

Instruction: Record the appropriate journal entry for each of the following business transactions;

Date	Transaction
4/21	Purchased raw materials on credit worth 100
5/21	Purchased raw materials on cash worth 20
6/21	Raw materials going out of the warehouse, 120
7/21	Record Finished Goods, 140
9/21	Sold finished products on credit worth 50 at 90
12/21	Sold finished products on cash worth 50 at 90

Journal Entry

Date	Account	Debit	Credit