Question
APRIL 2 Swan Company sold merchandise on account to Bird Company, $19,500, terms FOB shipping point, 1/10, n/30. Swan Company paid freight of $435, which
APRIL 2 Swan Company sold merchandise on account to Bird Company, $19,500, terms FOB shipping point, 1/10, n/30. Swan Company paid freight of $435, which was added to the invoice. The cost of the merchandise sold was $12,300.
Merchandise Inventory - Debit
Accounts Payable - Credit
Journalize the April transactions for Bird Company (the buyer).
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
12th edition
978-0324597714, 324597711, 324597703, 978-8131518571, 8131518574, 978-0324597707
