Issuance of Materials On May 7, Hatch Company purchased on account 650 units of raw materials at $24 per unit. During May, raw materials were requisitioned for production as follows: 260 units for Job 200 at $22 per unit and 202 units for Job 305 at $24 per unit. Journalize the entry on May 7 to record the purchase. If an amount box does not require an entry, leave it blank

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.