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The carter corporation purchased $2,000 of direct materials on account from its largest vendor. carter also paid $230 in shipping costs. how would carter record this transaction?

Sagot :

raw materials inventory       $2230

To credit carter corporation $2230

raw materials inventory will shown as debit and carter corporation as credit.  

The $2,230 transaction is recorded by carter as a debit to raw materials inventory.

A vendor, usually referred to as a supplier, is a person or a company who sells goods. A vendor often finds a place to sell their products and services. The seller markets and sells their goods using whichever strategy suits them best after procuring the appropriate items. For instance, if it's a food truck, the vendor makes sure there are enough ingredients to prepare the menu items and serve the anticipated amount of people before driving to a specific location and starting to sell meals. To prepare for, obtain, and deliver the items and services they are contracted to offer, a vendor that supplies one of these major businesses would require a significantly larger operation.

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