Journal entry to record the purchase of raw materials

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Reference no: EM13789394

Soledad Corporation had $29,200 of raw materials on hand on December 1. During the month, the Corporation purchased an additional $78,300 of raw materials. The journal entry to record the purchase of raw materials would include a:

credit to Raw Materials of $107,500

debit to Raw Materials of $107,500

credit to Raw Materials of $78,300

debit to Raw Materials of $78,300

Reference no: EM13789394

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