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Business, 30.10.2021 08:50 Yalmar6874

Wildhorse Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at a cost of $ 1,006,300. At December 31, 2021, the raw materials to be purchased have a market value of $ 955,300. Prepare any necessary December 31, 2021 entry.

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