Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 1 31 (To record raw materials purchased) (To record factory labor costs) Debit Credit
Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs. Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Mar. 31 1 31 (To record raw materials purchased) (To record factory labor costs) Debit Credit
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 17E: Nelson Fabrication Inc. had a remaining credit balance of $20,000 in its under- and overapplied...
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![Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs.
Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit
entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Mar. 31
31
(To record raw materials purchased)
(To record factory labor costs)
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa67777da-4b55-4cc7-85c7-4cd85410f300%2F0d4a2f64-37f4-4b8a-9363-e44da9f55e5e%2Fj170tno_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Blossom Company purchases $62,000 of raw materials on account, and it incurs $74,400 of factory labor costs.
Journalize the two transactions on March 31, assuming the labor costs are not paid until April. (List all debit entries before credit
entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Mar. 31
31
(To record raw materials purchased)
(To record factory labor costs)
Debit
Credit
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