Prepare journal entries for these transactions of Brayton Company using the gross price method and.. 1 answer below »

Prepare journal entries for these transactions of Brayton Company using the gross price method and the perpetual inventory system. Apr. 8 Purchased $ 15,800 in direct materials; terms 1 10, n 30, FOB shipping point. 11 $ 3,080 direct materials were requisitioned from the direct materials warehouse. 15 Filled indirect materials requisition, $ 800. These materials are recorded as supplies. 17 $ 380 in direct materials requisitioned on April 11 were not used in production and were returned to the warehouse. 17 Paid for direct materials purchased April 8.

 

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