Delaware,Inc.purchased raw materials worth $300 for cash.The journal entry to record this transaction will include ________.

Question

Quizplus · Accepted Answer

Since Delaware, Inc. purchased raw materials for cash, the journal entry will have a debit to Raw Materials Inventory to record the increase in inventory and a credit to Cash for the amount paid (which in this case is $300). Therefore, option D (a debit to Raw Materials Inventory for $300 and a credit to Cash for $300) is the correct answer. Option A is incorrect because it credits Raw Materials Inventory instead of debiting it. Option B is incorrect because it debits Accounts Payable instead of Cash. Option C is incorrect because it credits Accounts Payable instead of debiting it.