Perez Manufacturing purchased raw materials worth $ 4 comma 000 on account. The journal entry to record the purchase of raw materials on account is . Process costing is used. A. debit Raw Materials Inventory, $ 4 comma 000; credit Cash, $ 4 comma 000 B. debit Cash, $ 4 comma 000; credit Raw Materials Inventory, $ 4 comma 000 C. debit Raw Materials Inventory, $ 4 comma 000; credit Accounts Payable, $ 4 comma 000 D. debit Account Payable, $ 4 comma 000; credit Raw Materials Inventory, $ 4 comma 000

C. debit Raw Materials Inventory, $ 4 comma 000; credit Accounts Payable, $ 4 comma 000

Explanation:

The journal entry to record the raw material purchased on the account is as follows

Raw material inventory A/c Dr $4,000

         To Account payable A/c $4,000

(Being the raw material is purchased on account)

Since the raw material is purchased, the same is increased the current asset so it would be debited while the account payable is credited as it also increased the current liabilities account

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.