Question: When the company purchases raw materials for $50,000 on account, the entry should include: * A debit to Raw Material Inventory $50,000 and a credit

When the company purchases raw materials for $50,000 on account, the entry should include: *

A debit to Raw Material Inventory $50,000 and a credit to Cash $50,000

A debit to Accounts payable $50,000 and a credit to Raw Materials Inventory $50,000

A debit to Raw Materials Inventory $50,000 and a credit to Accounts Payable $50,000

None of the above

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