Question: Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 736 pounds of PVC at $41 per pound. On October 9, Schmidt's

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery

Company purchased 736 pounds of PVC at $41 per pound. On October

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 736 pounds of PVC at $41 per pound. On October 9, Schmidt's production department used 736 pounds of PVC for the 796 units of XV-1 it manufactured. Required: Prepare the journal entries to record the purchase and usage of PVC during October. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of PVC. Note: Enter debits before credits. Date Debit Oct 07 Record entry General Journal Clear entry Credit View general journal

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