Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs.

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Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April.

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 10:21 AM

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Warner Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs.

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Accounting Principles

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