Prepare journal entries to record the following transactions of a manufacturing company. 1. Purchased ($ 1,200) of

Question:

Prepare journal entries to record the following transactions of a manufacturing company.

1. Purchased $\$ 1,200$ of materials on credit for use in production.
2. Used $\$ 200$ of direct materials on Job 1 and $\$ 300$ of direct materials on Job 2.
3. Compute the ending balance of Raw Materials Inventory. Its beginning balance was $\$ 200$.

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