Accountancy, asked by seemasatelkar, 2 months ago

material jobs is to debit work in proces inventory and credit?​

Answers

Answered by AbhiThakur07
1

Explanation:

  • The Journal entries mentioned above show that when Raw Materials are purchased on credit, the Raw Material Inventory Account is debited, and Accounts Payable is credited.
  • Finally, upon completion, the Finished Goods Inventory is debited, and the Work in Progress Inventory is debited.
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