O'Hare Company, is a manufacturing firm that uses a job-order cost system to determine the costs of its products. On January 1, O'Hare purchased $3,000 of raw materials with cash. The entry to record the purchase of raw materials would:

Question

Quizplus · Accepted Answer

The purchase of raw materials with cash involves exchanging one asset (cash) for another asset (raw materials), so total assets remain unchanged.

O'Hare Company, Is a Manufacturing Firm That Uses a Job-Order