Date Accounts Debit Credit Data Table Now record a single journal entry for the

Question

Date Accounts Debit Credit Data Table Now record a single journal entry for the materials used. Date Accounts Debit Credit Raw Materials Inventory, beginning balance Purchases of canvas, on account Purchases of sewing machine lubricating oil, on account Material requisitions: S 39,000 71,000 900 Canvas 60,000 Post these transactions to the Raw Materials Inventory account and determine the ending balance in Raw Materials Inventory Sewing machine lubricating oil 500 Raw Materials Inventory Print Done

Explanation / Answer

General Journal Debit Credit Raw Materials Inventory 71900 Accounts Payable 71900 71000+900 Work-in-Process Inventory 60000 Manufacturing Overhead 500 Raw Materials Inventory 60500 Raw Material Inventory Balance 39000 Used 60500 Purchased 71900 Balance 50400

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