C. Shipping terms are F.O.B shipping point, freight prepaid. Caris Co. paid the shipping costs on Sept. 17. Oana Co. remitted cash on Sept. 24. Requirements; 1. Prepare the entries for Caris Co. to record the sale and cash receipts. 2. Prepare the entries for Oana to record the purchase, the payment of shipping costs and cash remittance. D. Shipping terms are F.O.B destination, freight prepaid. Caris Co. paid the shipping costs on Sept. 17 and Oana Co. remitted the cash on Sept. 24. Requirements; 1. Prepare the entries for Caris Co. to record the sale and cash receipts. 2. Prepare the entries for Oana to record the purchase, the payment of shipping costs and cash remittance. Test VI: In testing the sale cut off for the Camela Co. in connection with an audit for the year ended October 31, 2005, you find the following information. A physical inventory was taken as of the close of business on October 31, 2007, all customers are within a three-day delivery area of the Camela Co. plant. Vat is billed separately. The unadjusted balance for sales, purchases, and inventories are P3,500,000, P1,000,000 and P200,000 respectively. Sales Cost Invoice No. Terms F.O.B Date Shipped Date Recorded 0001 0002 0003 00X04 0005 Destination Shipping point Shipping point Destination Destination 10-20 10-31 10-25 10-31 10-31 10-31 11.02 10-31 10-29 11-2 10,000 25,000 18,000 42.000 92.000 7,500 20,000 12.000 31.000 80,000 Invoice Cost No. Terms F.O.B Date Shipped Date Recorded 1001 Shipping point 11-02 10-23 51,000 1002 Shipping point 11-05 11.06 25.000 1003 Destination 10-25 11-03 20,000 1004 Destination 10-31 10-29 40.000 1005 Destination 11-05 11-2 25.000 Required: Compute for the adjusted balances for sales, purchases and inventories, respectively: Sales Purchases Inventories C. Shipping terms are F.O.B shipping point, freight prepaid. Caris Co. paid the shipping costs on Sept. 17. Oana Co. remitted cash on Sept. 24. Requirements; 1. Prepare the entries for Caris Co. to record the sale and cash receipts. 2. Prepare the entries for Oana to record the purchase, the payment of shipping costs and cash remittance. D. Shipping terms are F.O.B destination, freight prepaid. Caris Co. paid the shipping costs on Sept. 17 and Oana Co. remitted the cash on Sept. 24. Requirements; 1. Prepare the entries for Caris Co. to record the sale and cash receipts. 2. Prepare the entries for Oana to record the purchase, the payment of shipping costs and cash remittance. Test VI: In testing the sale cut off for the Camela Co. in connection with an audit for the year ended October 31, 2005, you find the following information. A physical inventory was taken as of the close of business on October 31, 2007, all customers are within a three-day delivery area of the Camela Co. plant. Vat is billed separately. The unadjusted balance for sales, purchases, and inventories are P3,500,000, P1,000,000 and P200,000 respectively. Sales Cost Invoice No. Terms F.O.B Date Shipped Date Recorded 0001 0002 0003 00X04 0005 Destination Shipping point Shipping point Destination Destination 10-20 10-31 10-25 10-31 10-31 10-31 11.02 10-31 10-29 11-2 10,000 25,000 18,000 42.000 92.000 7,500 20,000 12.000 31.000 80,000 Invoice Cost No. Terms F.O.B Date Shipped Date Recorded 1001 Shipping point 11-02 10-23 51,000 1002 Shipping point 11-05 11.06 25.000 1003 Destination 10-25 11-03 20,000 1004 Destination 10-31 10-29 40.000 1005 Destination 11-05 11-2 25.000 Required: Compute for the adjusted balances for sales, purchases and inventories, respectively: Sales Purchases Inventories