=+Aug. 1. Salem Company sold merchandise on account to Boulder Co., $28,600, terms FOB destination, 2/15, n/eom.

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=+Aug. 1. Salem Company sold merchandise on account to Boulder Co., $28,600, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $17,000.

2. Salem Company paid freight of $500 for delivery of merchandise sold to Boulder Co. on August 1.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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