Question

Gullett corporation had $44,000 of raw materials on hand on november 1. during the month, the corporation purchased an additional $93,000 of raw materials. the journal entry to record the purchase of raw materials would include a:

Answer 1

Answer:

Dr Raw materials $93,000

Cr Accounts payable $93,000

Explanation:

Based on the information given we were told that during the month, the corporation had to purchased an additional raw materials of the amount of $93,000 which means that the journal entry to record the purchase of raw materials would include a:

Dr Raw materials $93,000

Cr Accounts payable $93,000

(To record purchase of raw materials)