Delaware Company Purchased Raw Materials Worth $500 for Cash

Delaware Company purchased raw materials worth $500 for cash. The journal entry to record this transaction will include:

A) a debit to Cash for $500 and a credit to Raw Materials Inventory for $500.
B) a debit to Accounts Payable for $500 and a credit to Raw Materials Inventory for $500.
C) a debit to Raw Materials Inventory for $500 and a credit to Accounts Payable for $500.
D) a debit to Raw Materials Inventory for $500 and credit to Cash for $500.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free