Record the above transactions in ABC Inc.'s journal. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan).

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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ABC Inc. recorded the following transactions for July 2019:
a. July 10: $79,000 in raw materials were purchased on account.
b. July 13: $62,000 in raw materials were requisitioned for use in production as direct materials.
c. July 24: $12,000 of raw materials were used as indirect materials.
d. July 25: Total labor wages of $97,000 were incurred for direct labor.
e. July 26: Labor wages of $13,000 were incurred for indirect labor.
f. July 30: Additional manufacturing overhead costs of $185,000 were incurred. All of these costs will be paid in the future.
Record the above transactions in ABC Inc.'s journal. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be
entered in the format dd/mmm (i.e., January 15 would be 15/Jan).
Date
General Journal
Account/Explanation
Page G2
PR Debit Credit
+
+
דו
Transcribed Image Text:ABC Inc. recorded the following transactions for July 2019: a. July 10: $79,000 in raw materials were purchased on account. b. July 13: $62,000 in raw materials were requisitioned for use in production as direct materials. c. July 24: $12,000 of raw materials were used as indirect materials. d. July 25: Total labor wages of $97,000 were incurred for direct labor. e. July 26: Labor wages of $13,000 were incurred for indirect labor. f. July 30: Additional manufacturing overhead costs of $185,000 were incurred. All of these costs will be paid in the future. Record the above transactions in ABC Inc.'s journal. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Date General Journal Account/Explanation Page G2 PR Debit Credit + + דו
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