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Question & Answer: What is the journal entry to record the purchase of materials on account?…..

What is the journal entry to record the purchase of materials on account?
A.
Raw materials inventory $XXX
Accounts payable $XXX
B.
Accounts payable $XXX
Raw materials inventory $XXX
C.
Accounts receivable $XXX
Accounts payable $XXX
D.
Raw materials inventory $XXX
Cash $XXX

Expert Answer

Please find below the answer and please give thumbs up
Correct answer is
A.
Raw materials inventory      $XXX
Accounts payable                 $XXX
Accounts payable is credited as purchase is made on credit
Raw materials is debit since inventory comes in thus debit
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