Materials Purchased on Account During the Month Totaled $190,000

question 33

Short Answer

Materials purchased on account during the month totaled $190,000. Materials requisitioned and placed in production totaled $165,000. The journal entry to record the materials purchased on account is

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Definitions:

Semantic Differential Scale

A scale anchored at opposite ends by opposing words such as “strong–weak” or “hot–cold.”

Freshman

A student in the first year of high school, college, or university education.

Ordinal

Pertains to a classification of data where the order of the values is significant, but the distance between values is not uniform.

Nominal

A measurement scale used to categorize data without implying any order or quantitative value among the categories.