Question

On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit.

Required:
Journalize the entry on May 7 to record the purchase

Answer 1

The entry on May 7 to record the purchase

Debit : Raw Materials $80,000

Credit : Accounts Payable $80,000

Step-by-step explanation:

The entry on May 7 to record the purchase is prepared above.