Question
On March 1 we purchased $6,000 of merchandise on account from Annex Co., terms FOB shipping point, 1/10, n/30. a. Merchandise Inventory 5,940 Accounts Payable
On March 1 we purchased $6,000 of merchandise on account from Annex Co., terms FOB shipping point, 1/10, n/30.
a. Merchandise Inventory 5,940 Accounts Payable 5,940
b. Merchandise Inventory 6,000 Accounts Payable 6,000
c. Cost of Merchandise Sold 6,000 Accounts Payable 6,000
d. Cost of Merchandise Sold 5,940 Accounts Payable 5,940 e. None of the above
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A One Year Accounting Course
Authors: Trevor Gambling
21st Edition
0080130275, 9780080130279
