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4 October, 06:52

Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,000. The journal entry to record the materials purchased on account is:

A. Materials 156,000

Work in Process 156,000

B. Work in process 190,000

Materials 190,000

C. Work in process 156,000

Materials 156,000

D. Work in process 156,000

Cash 156,000

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Answers (1)
  1. 4 October, 09:04
    0
    Journal Entry

    Explanation:

    The Journal Entry is shown below:-

    Materials Dr, $190,000

    Accounts Payable 190,000

    (Being Material repurchase is recorded)

    Therefore for recording the material purchase we debited the materials and credited the accounts payable.

    So, as per the question, the correct entry is above. The option is not available.
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Home » Business » Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,000. The journal entry to record the materials purchased on account is: A. Materials 156,000 Work in Process 156,000 B.
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