eBook Calculator Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.O.B. shipping The second was shipped F.O.B. shipping point and had a total invoice price of $87.250, including transportation charges of $1,125 paid by the seller. Digital uses a perpetual inventory system. Digital has not paid any of the Required: Prepare journal entries to record these purchases. Journalize the entries to record the first shipment and transportation charges, if required. May 12 Inventory 142,500 Accounts Payable 142.500 (Purchased inventory on account) May 12 Inventory 8,300 Accounts Payable (Paid shipping costs, if required) Feedback Check My Work From the buyer's perspective, the historical cost principle implies that inventory cost will include the purchase price of the in Journalize the entries to record the second shipment and transportation charges, if required. If no entry is required, May 12 Inventory 87,250 Accounts Payable 87.250 (Purchased inventory on account) May 12 Inventory X 21,650 x Accounts Payable x 21.650 X (Paid shipping costs, if required) Check My Work 1 more Check My Work uses remaining a total invoice price of $142,500, and was delivered by a trucking company that charged an additional $8,300 for transportation charges from Digital $5,700 that were prepaid by the seller. The third shipment was shipped F.O.B. destination and had an invoice price of $21,650, excluding transportation entory plus any cost of bringing the goods to a stable condition and location select "No entry required and leave the amount boxes blank. OLULUI- puyesslise eBook E Calculator May 12 Inventory 87.250 Accounts Payable 87,250 (Purchased inventory on account) May 12 Inventory X 21.650 X Accounts Payable y 21.650 (Paid shipping costs, if required) V Chachy Work From the buyer's perspective, the storical cost principle imples that inventory cost will include the purchase price of the inventory plus anycost of bringing the goods to a s e condition and locata Journalize the entries to record the third shipment and transportation charges, if required. If no entry is required, select "No entry required and leave the amount boxes blank. May 12 (Purchased inventory on account) May 12 Pand shipping costs, if required) From the buyer's perspective, the historical cost principl e s inventory co d e the purchase of the very anycost of being the goods to be condition and location Partially cared Check My Wed 1mont Check My Works eBook Calculator Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.O.B. shipping The second was shipped F.O.B. shipping point and had a total invoice price of $87.250, including transportation charges of $1,125 paid by the seller. Digital uses a perpetual inventory system. Digital has not paid any of the Required: Prepare journal entries to record these purchases. Journalize the entries to record the first shipment and transportation charges, if required. May 12 Inventory 142,500 Accounts Payable 142.500 (Purchased inventory on account) May 12 Inventory 8,300 Accounts Payable (Paid shipping costs, if required) Feedback Check My Work From the buyer's perspective, the historical cost principle implies that inventory cost will include the purchase price of the in Journalize the entries to record the second shipment and transportation charges, if required. If no entry is required, May 12 Inventory 87,250 Accounts Payable 87.250 (Purchased inventory on account) May 12 Inventory X 21,650 x Accounts Payable x 21.650 X (Paid shipping costs, if required) Check My Work 1 more Check My Work uses remaining a total invoice price of $142,500, and was delivered by a trucking company that charged an additional $8,300 for transportation charges from Digital $5,700 that were prepaid by the seller. The third shipment was shipped F.O.B. destination and had an invoice price of $21,650, excluding transportation entory plus any cost of bringing the goods to a stable condition and location select "No entry required and leave the amount boxes blank. OLULUI- puyesslise eBook E Calculator May 12 Inventory 87.250 Accounts Payable 87,250 (Purchased inventory on account) May 12 Inventory X 21.650 X Accounts Payable y 21.650 (Paid shipping costs, if required) V Chachy Work From the buyer's perspective, the storical cost principle imples that inventory cost will include the purchase price of the inventory plus anycost of bringing the goods to a s e condition and locata Journalize the entries to record the third shipment and transportation charges, if required. If no entry is required, select "No entry required and leave the amount boxes blank. May 12 (Purchased inventory on account) May 12 Pand shipping costs, if required) From the buyer's perspective, the historical cost principl e s inventory co d e the purchase of the very anycost of being the goods to be condition and location Partially cared Check My Wed 1mont Check My Works
