Question: Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 721 pounds of PVC at $42 per pound. On October 9, Schmidt's

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 721 pounds of PVC at $42 per pound. On October 9, Schmidt's production department used 721 pounds of PVC for the 781

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 721 pounds of PVC at $42 per pound. On October 9, Schmidt's production department used 721 pounds of PVC for the 781 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 General Journal Debit Credit Oct 07 Record entry Clear entry View general journal Journal entry worksheet

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