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All The Beds received a shipment of bed sheets on April 6, 2018. The value of the bed sheets was $15,000 and the sheets were
All The Beds received a shipment of bed sheets on April 6, 2018. The value of the bed sheets was $15,000 and the sheets were shipped FOB shipping point. Freight charges came to $100. This company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Required a) Prepare the journal entry to record the receipt of goods by All The Beds, assuming the payment will be made in May. Date Account Title and Explanation Debit Credit 2018 Apr 6 Answer Merchandise Inventory Answer Answer Accounts Payable Answer Purchased inventory b) The bed sheets delievered to All The Beds were the wrong material. After some negotiation, the manager agreed
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