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In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit

In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit
Transcribed Image Text:In January, Knox Company requisitions raw materials for production as follows: Job 1 $976, Job 2 $1,430, Job 3 $728, and general factory use $634. Prepare a summary journal entry to record raw materials used. Date Jan. 31 Account Titles and Explanation Debit Credit
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