Knowledge Check 01 A buyer uses a perpetual inventory system, and it purchases merchandise on terms of FOB shipping point On December 20, the shipping company sends en invoice for $125 to the party responsible for the freight charges, and cash payment is made immediately. Complete the buyer's necessary journal entry by selecting the sccount nemes from the drop-down menus and entering the color amounts in the debit or credit column. View trancaotion lick Journal entry worksheet A buyer uses a perpetual inventory system, and it purchases merchandise on terms of FOB shipping point. On December 20, the shipping company sends an invoice for $125 to the party responsible for the freight charges, and cash payment is made immediately Note: Enter debits before credits Date General Journal Debit Credit Dec. 20 Record entry Clear entry View general journal