Blossom Manufacturing purchases $72,000 of raw materials on account, and it incurs $79,000 of direct labour...

Transcribed Image Text:

Blossom Manufacturing purchases $72,000 of raw materials on account, and it incurs $79,000 of direct labour costs. Journalize the two transactions on March 31 assuming the labour costs are not paid until April. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 Debit Credit Blossom Manufacturing purchases $72,000 of raw materials on account, and it incurs $79,000 of direct labour costs. Journalize the two transactions on March 31 assuming the labour costs are not paid until April. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 31 Debit Credit

Answer rating: 100% (QA)

ANSWER The journal entries for the transactions on March 31 would be as follows Purchasing raw ... View the full answer