Assume that during 2014 Company A purchased an additional 38 3 million in raw materials inventory for cash

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Assume that during 2014 Company A purchased an additional 38 3 million in raw materials inventory for cash

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.

 
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