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-   -   Purchase house for $25 the house value is $22 what is the adjust entries (https://www.askmehelpdesk.com/showthread.php?t=575002)

  • May 7, 2011, 09:17 AM
    nsims
    purchase house for $25 the house value is $22 what is the adjust entries
    During the prior fiscal year, Nina corp signed a long-term noncancellable purchase commitment with its primary supplier to purchase $25 of raw materials.
    Nina Paid $25 to axquire the raw materials when the raw materials wer only worth $22.
    Assume that the purchase commitment was properly recorded.

    What is the journal entry to record the purchase?

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