On July 1, 2017, you, the business owner, invested $15,000 of your own money in the business to purchase inventory owned by a small manufacturer. The manufacturer you purchased had $800 in raw materials inventory, $1,200 in work in process, and $500 in finished goods inventory. The remainder of the unspent cash was deposited into the company’s cash account. What

Sep 8, 2023

On July 1, 2017, you, the business owner, invested $15,000 of your own money in the business to purchase inventory owned by a small manufacturer. The manufacturer you purchased had $800 in raw materials inventory, $1,200 in work in process, and $500 in finished goods inventory. The remainder of the unspent cash was deposited into the company’s cash account.

What would the journal entry for this look like?

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On July 1, 2017, you, the business owner, invested $15,000 of your own money in the business to purchase inventory owned by a small manufacturer. The manufacturer you purchased had $800 in raw materials inventory, $1,200 in work in process, and $500 in finished goods inventory. The remainder of the unspent cash was deposited into the company’s cash account. What
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