The proper journal entry to record the purchase of $25,000 of raw materials on account would be:
A) Jan 2 Raw Material Inventory 25,000Accounts Receivable 25,000
B) Jan 2 Raw Material Inventory 25,000Accounts Payable 25,000
C) Jan 2 Inventory 25,000Accounts Receivable 25,000
D) Jan 2 Inventory 25,000Cash 25,000
B
You might also like to view...
A ____________ is a certificate that represents a corporation's promise to repay a certain amount of money and interest in the future
Fill in the blank(s) with correct word
Outplacement services help terminated employees find a job elsewhere.
Answer the following statement true (T) or false (F)
If a product-market segment is "homogeneous within," it is called a "substantial" target market.
Answer the following statement true (T) or false (F)
Rapid money supply growth and uncontrollable inflation were among the factors which motivated the creation of the Federal Reserve System
Indicate whether the statement is true or false