Cash Contributed to a Joint Operation Was Used to Purchase

Multiple Choice

Cash contributed to a joint operation was used to purchase Equipment ($250 000) and raw materials ($100 000) . The entry by the joint operation to record of these transactions is which of the following?

A) DR Equipment $250 000 DR Raw materials $ 100 000
CR Cash $350 000
B) DR Work in progress $350 000 CR Joint operation capital $350 000
C) DR Cash $350 000 CR Contribution to joint operation $350 000
D) DR Cash $350 000 CR Equipment $250 000
CR Raw materials $100 000