During the current month, a company that uses a job order cost accounting system purchases $ 50,000

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During the current month, a company that uses a job order cost accounting system purchases $ 50,000 in raw materials for cash. It then uses $ 12,000 of raw materials indirectly as factory supplies and uses $ 32,000 of raw materials as direct materials. Prepare entries to record these three transactions.

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Fundamental accounting principle

ISBN: 978-0078025587

21st edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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