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What is the journal entry to record the purchase of materials on account?

         A. Raw materials inventory $XX

         Accounts payable $XX

                   B. Accounts payable $XX

       Raw materials inventory $XX

               C. Accounts receivable $XX

               Accounts payable $XX

D. Raw materials inventory $XX

 Cash $XX

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Question added by Deleted user
Date Posted: 2015/02/27
Deleted user
by Deleted user

Answer is

>>Raw mterials inventory a/c Dr

       To accounts payable

Naveen Moras
by Naveen Moras , Account Manager , Apex Group Ltd

Hi

Answer is option - A

 

Regards,

Naveen

Deleted user
by Deleted user

A) is the correct answer.

 

D is close, but can't be right, as its materials on account, not materials on COD basis.

 

 

Muhammad Imran
by Muhammad Imran , Head of Accounts & Company Secretary , Fauji Infraavest Foods Limited

A. Raw Material (debit)

    Accounts Payable (credit)

Imran Ahmed
by Imran Ahmed , Accounts Assistant , Mainetti Pakistan

 A. Raw materials inventory $XX

         Accounts payable $XX

ahmed amin
by ahmed amin , Audit supervisor , KPMG

a .>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>...

aziz urrehman
by aziz urrehman , key account executive , alkhair group of companies foam manufacturing

A AND B are the correct options

Muhammad Yousouf
by Muhammad Yousouf , Lahore , AM Construction Company

purchase dr

account payable cr

idris abbas taha abdullah
by idris abbas taha abdullah , Accountant , champers of

All Accounts, Payable - Receivable, Banks , box, Salaries , Petty Cash Clearance, Trading, Contracting, Payroll Salaary, training of NCB for Salaries, Journal , Trail Sheet Correction, Balance Sheet , Purchser, Sales .

account payable

account receivable

Raw materials inventory Cash..D

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