The journal entry to record the purchase of materials on account in process cost accounting is:
A. debit Accounts Payable and credit Production Materials
B. debit Raw Materials Inventory and credit Accounts Payable
C. debit Accounts Payable and credit Raw Materials Inventory
D. debit Production Materials, and credit Accounts Payable

The journal entry for purchasing materials on account in process cost accounting is to debit Raw Materials Inventory and credit Accounts Payable. This reflects an increase in inventory and a corresponding liability for the purchased materials. This method is standard in process costing for recognizing material purchases. ;

Answered by GinnyAnswer | 2025-07-07

The correct journal entry for purchasing materials on account in process cost accounting is to debit Raw Materials Inventory and credit Accounts Payable. This entry reflects an increase in inventory and a corresponding liability. It ensures accurate financial reporting for the acquisition of materials used in production.
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Answered by Anonymous | 2025-07-09