Manufactoring records show $4,935,000 of raw material transferred to work in process. How do I journalize that?

You are dealing with a transfer between two inventories

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Originally Posted by paraclete

you are dealing with a transfer between two inventories

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So would this be right?

Work in Process 4,935,000
Raw Materials $4,935,000

Depending upon which you consider the debit and which your consider the credit