Marusarz Corporation has provided the following data concerning its most important raw material, compound F55M: When recording the purchase of materials, Raw Materials would be:
A)credited for $74,120.
B)debited for $73,270.
C)debited for $74,120.
D)credited for $73,270.

Question

Marusarz Corporation has provided the following data concerning its most important raw material, compound F55M:  When recording the purchase of materials, Raw Materials would be:
A)credited for $74,120. 
B)debited for $73,270. 
C)debited for $74,120. 
D)credited for $73,270.

Quizplus · Accepted Answer

The question provides information on the cost of raw material, which is $74,120. When purchasing raw material, the Raw Materials account is debited (increased) with the cost of the material. Therefore, the correct choice is C: Raw Materials debited for $74,120.

Marusarz Corporation Has Provided the Following Data Concerning Its Most