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Materials issued for the current month are as follows:
Requisition No. Material Job No. Amount
103 Plastic 400 $25,060
104 Steel 402 38,880
105 Glue Indirect 2,200
106 Rubber 403 3,820
107 Titanium 404 85,800
Required:
Problem 1: Journalize the entry on Dec. 31 to record the issuance of materials. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
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