Question: Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased ( $ 80,000 ) of raw materials on credit. Its Mixing department requisitioned

Hotwax makes surfboard wax in two sequential processes. This period, Hotwax purchased \$ \\$ 80,000 \$ of raw materials on credit. Its Mixing department requisitioned \$ \\$ 63,500 \$ of direct materials for use in production. Prepare journal entries to record its purchase of raw materials and requisition of direct materials. Journal entry worksheet Record purchase of raw materials inventory on account. Note: Enter debits before credits

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