The correct journal entry to record the purchase of $320,000 of raw materials on account is: a. Direct Materials Expense 320,000 Accounts Payable 320,000 b. Raw Materials Inventory 320,000 Accounts Payable 320,000 c. Accounts Payable 320,000 Raw Materials Inventory 320,000 d. Accounts Payable 320,000 Direct Materials Expense 320,000