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eBook Show Me How Print Ilem Issuance of Materials On May 7, Salinger Company...

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Accounting

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Issuance of Materials
On May 7, Salinger Company purchased on account 350 units of raw materials at $14 per unit. During May, raw materials were requisitioned for production as follows: 109 units for Job 200 at $11 per unit and 126 units for Job 305 at $14 per unit.
Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank.
May 7
Accounts Payable
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May 7 Record materials at their total purchase price.
Journalize the entry on May 31 to record the requisition from the materials storeroom. If an amount box does not require an entry, leave it blank.
May 31
Materials x
x
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