Johnson Company incurred $920 in shipping costs related to the inventory purchases in PE 7-5. The company

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Johnson Company incurred $920 in shipping costs related to the inventory purchases in PE 7-5. The company paid for the shipping costs in cash. Make the journal entry necessary to record this transaction under
(1) A perpetual inventory system and
(2) A periodic inventory system.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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