=+5. Salem Company sold merchandise on account to Boulder Co., $18,000, terms FOB shipping point, n/eom. The

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=+5. Salem Company sold merchandise on account to Boulder Co., $18,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $10,800.

6. Boulder Co. returned $1,600 of merchandise purchased on account on August 1 from Salem Company. The cost of the merchandise returned was $960.

9. Boulder Co. paid freight of $350 on August 5 purchase from Salem Company.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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