What Is the Journal Entry to Record Issuing Raw Materials

question 48

Multiple Choice

What is the journal entry to record issuing raw materials from the storeroom?

• A)Debit Raw Materials Inventory; Credit Work-in-Process
• B)Debit Overhead-Control; Credit Work-in-Process
• C)Debit Work-in-Process; Credit Overhead-Control
• D)Debit Work-in-Process; Credit Raw Materials Inventory

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Definitions:

Remittance Advice

A document sent by a customer to a seller, informing the seller that an invoice has been paid, typically accompanying a payment.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under the terms of an earlier invoice.

Receiving Report

The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected.

Supplier's Invoice

A document issued by a supplier listing the products or services provided, their quantities, and the agreed prices, to request payment from the buyer.