Question: Prepare Journal Entry required for the 2 0 2 3 . 4 . The company ran out of cake and pastry flour, which is a

Prepare Journal Entry required for the 2023.
4. The company ran out of cake and pastry flour, which is a key ingredient. They placed an order for 50 bags of flour at a cost of $25 each on December 28,2023. Terms of this order were 210,n30, FOB shipping point. The company received an email notifying them of shipment on December 31,2023, and it generally takes 5 businesses days to deliver. Tiffany looked forward to replenishing stocks and adding them to inventory upon receipt.
Prepare Journal Entry required for the 2023. 4. The company ran

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