Question

Mountain Packs manufactures backpacks. Its plant records include the following materscelated data (Click the icon to view the transactions) Joumalize the entries to record the transactions, post to the Raw Materials inventory account and determine the ending balance in Raw Materials Inventory Journalize the entries to record the transactions Begin by recording the journal entry for the purchases of materials (Record debits first, then credits Exclude explanation fo.. Date Accounts Debit Credit Data Table S 31,000 70.000 1300 Now record a single journal entry for the materials used Raw Materials Inventory, beginning balance Purchases of canvas, on account Purchases of sewing machine lubricating ol, on account Material requis Canvas Sewing machine lubricating oil Date Accounts Debit Credit 52,000 350 Choose from any list or enter any number in the input fields and then continue to the next question Print Done

Answer 1

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Date Credit Debit $ 70,000 $ 1,300 $ 71,300 Account Raw Materials Inventory Raw Materials Inventory Accounts Payable (Being canvas and Sewing machine lubricant oil purchased on account) OR Raw Materials Inventory Accounts Payable $ 71,300 Beg. Bal. Purchases 62,350 Raw Materials Inventory 31,000 Work-in-process inventory $ 71,300 $ $ $ 71,300 End. Bal. $ 39,950 $ 62,350 Work-in-process inventory Raw Materials Inventory (Being materials used for production) $ 62,350

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