In January, Pharoah Company requisitions raw materials for production as follows: Job 1$1,040, Job 2$1,280, Job 3720, and general factory use $640. Prepare a summary journal entry to record raw materials used. (List all debitentries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 In January, Pharoah Company requisitions raw materials for production as follows: Job 1 $1,040, Job 2 $1,280, Job 3 $720, andgeneral factory use $640.Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles areautomatically indented when amount is entered. Do not indent manually.)Date Account Titles and ExplanationJan. 31DebitCredit

Lets understand the basics.Journal entries are prepared to record transactions on regular basis.The…

In January, Pharoah Company requisitions raw materials for production as follows: Job 1 $1,040, Job 2 $1,280, Job 3 $720, and general factory use $640. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 K Debit Credit

In January, Pharoah Company requisitions raw materials for production as follows: Job 1 $1,040, Job 2 $1,280, Job 3 $720, and general factory use $640. Prepare a summary journal entry to record raw materials used. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 31 K Debit Credit

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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