Ask Question
29 June, 13:53

LO 4.7In a job order cost system, raw materials purchased are debited to which account?

raw materials inventory

work in process inventory

finished goods inventory

cost of goods sold

+3
Answers (1)
  1. 29 June, 17:11
    0
    Raw materials inventory

    Explanation:

    Since the raw material is purchased which increase the stock account so we debited it and for purchasing the raw material, the cash is given or it can takes on credit so we credited it

    So, the journal entry would be

    Raw material A/c Dr

    To Cash A/c

    (Being raw material purchased for cash)

    Raw material A/c Dr

    To Accounts payable A/c

    (Being raw material purchased on credit)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “LO 4.7In a job order cost system, raw materials purchased are debited to which account? raw materials inventory work in process inventory ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers