Question
Assume goods costing $100 are sold to a customer on account for $250 (terms FOB destination ) and the freight cost paid to have these
Assume goods costing $100 are sold to a customer on account for $250 (terms FOB destination) and the freight cost paid to have these goods delivered is $25.
Identify the party that would be paying for shipping in this scenario and then, from that party's perspective, record the journal entries that would be needed to record this sale and the transportation costs.
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
