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Merchandise ordered December 26, 2017 costing P120,000 was shipped to Juliet Company on December 30 on terms FOB destination. The invoice was received December 30

Merchandise ordered December 26, 2017 costing P120,000 was shipped to Juliet Company on December 30 on terms FOB destination. The invoice was received December 30 and purchase was recorded. However, the goods were not part of the December 31, 2017 physical count since it arrived only January 6, 2018. entry

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