Question Description

1) Assume that, during 2014, Company A purchased an additional $38.3 million in raw materials inventory for cash. Write the journal entry necessary to record this transaction.

2) Assume that interest of $49.7 million was due and paid for by Company B during 2014. Write the journal entry necessary to record these transactions.

1) Assume that, during 2014, Company A purchased an additional $38.3 million in raw materials inventory for cash. Write the journal entry necessary to record this transaction. 2) Assume that interest of $49.7 million was due and paid for by Company B during 2014. Write the journal entry necessary to record these transactions.