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Q4 During May, Jon Corporation purchased $80,000 of raw materials on credit to add to...

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Accounting

Q4 During May, Jon Corporation purchased $80,000 of raw materials on credit to add to its raw materials inventory. A total of $85,000 of raw materials was requisitioned from the storeroom for use in production. These requisitioned raw material included $7000 of indirect materials.

Required: Prepare journal entries to record the purchase of materials and their use in production.

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