Question
On December 30, 2009, Parker Company ships $250,000 of merchandise by common carrier to Jackson, Inc. The terms of the sale are 2/10, n/60, FOB
On December 30, 2009, Parker Company ships $250,000 of merchandise by common carrier to Jackson, Inc. The terms of the sale are 2/10, n/60, FOB shipping point. It takes four days for the merchandise to arrive at Jackson, Inc. Both Parker and Jackson have December 31 year-ends. Can Parker report a sale on its income statement for fiscal 2009? Why?
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The Safety Audit Designing Effective Strategies
Authors: Roger Saunders
1st Edition
0273034480, 978-0273034483
