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12. Swifty Company purchases $50,700 of raw materials on account... Please...

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Accounting

12. Swifty Company purchases $50,700 of raw materials on account...
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Swifty Company purchases $50,700 of raw materials on account, and it incurs $64,000 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (Credit occount titles are outomatically Indented when amount is entered. Do not indent manually.)

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