When you buy raw materials, and record the purchase of those materials, this entry is a ________________ to raw materials inventory, and a ____________________ to cash or accounts payable. 1 pointCredit, Debit Notes Payable, EquipmentEquipment, Notes PayableDebit, Credit

The journal entry to record the purchase of materials on account is to:Multiple choice question.debit Accounts Payable and credit Raw Materials Inventorydebit Accounts Payable and credit Production Materialsdebit Production Materials and credit Accounts Payabledebit Raw Materials Inventory and credit Accounts Payable

When raw materials are used to create a final product, that product becomes a finished good. When that good is sold, the journal entry includes _______________ and ______________________. Select all that apply.1 pointCredit to cost of goods sold, Debit of inventory (finished goods)Debit to cost of goods sold, Credit to inventory (finished goods) Credit to cash/accounts receivable, Debit to sales incomeDebit to cash/accounts receivable, Credit to sales income

All of the following are inventory accounts for a manufacturer except:Multiple choice question.raw materials inventorywork in process inventoryindirect materials inventoryfinished goods inventory

Assuming a periodic inventory system is used, the entry to record a purchase of merchandise on credit includes:Multiple Choicea debit to Purchases and a credit to Accounts Payable.a debit to Accounts Payable and a credit to Purchases.a debit to Purchases and a credit to Accounts Receivable.a credit to Purchases and a credit to Accounts Payable.

The document which is prepared after receiving and inspecting material .a.bill of material.b.inventory record.c.goods received note.d.material record note