Question
The proper journal entry to record the purchase of $25,000 of raw materials on account would be: Jan 2 Raw Material Inventory 25,000 Accounts Receivable
The proper journal entry to record the purchase of $25,000 of raw materials on account would be:
| Jan 2 Raw Material Inventory 25,000 Accounts Receivable 25,000 | ||
| Jan 2 Raw Material Inventory 25,000 Accounts Payable 25,000 | ||
| Jan 2 Inventory 25,000 Accounts Receivable 25,000 | ||
| Jan 2 Inventory 25,000 Cash 25,000 |
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp
7th Edition
0324658052, 978-0324658057
