Question: Industrial Boxes makes cardboard shipping cartons in a single operation. This period, Industrial purchased $124,000 in raw materials. Its production department requisitioned $100,000 of those

Industrial Boxes makes cardboard shipping cartons in a single operation. This period, Industrial purchased $124,000 in raw materials. Its production department requisitioned $100,000 of those materials for use in producing cartons. Prepare journal entries to record its
(1) Purchase of raw materials and
(2) Requisition of direct materials.

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