Raw Materials Inventory, beginning balance	$34,000
Purchases of canvas, on account	70,000
Purchases of sewing machine lubricating oil, on account	900
Material requisitions:
Canvas	61,000
Sewing machine lubricating oil	200

Sport PacksSport Packs

manufactures backpacks. Its plant records include the following materials-related data:

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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
			Raw Materials Inventory	70,900
			Accounts Payable		70,900

Now record a single journal entry for the materials used.

Date

Accounts

Debit

Credit