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On December 27, 20x1, ABC Co. received a sale order for a credit sale of goods with selling price of 3,000. The goods were shipped
On December 27, 20x1, ABC Co. received a sale order for a credit sale of goods with selling price of 3,000. The goods were shipped on December 31, 20x1 and were received by the buyer on January 02, 20x2. The related shipping costs amounted to 20. ABC Co. collected the receivable on January 5, 20x2.
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In a FOB destination freight collect term of sale the seller ABC Co in this case is responsib...
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
