Question

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 material purchase on account is

Answer 1

Step-by-step explanation:

The journal entry is shown below:

Material A/c Dr $190,000

To Account payable A/c $190,000

(Being the material purchased on the account is recorded)

Since the material is purchased so we debited the material account and it is to be purchased on account that means on credit basis i.e account payable so the respective account is credited