Question
Please show Help show journal entries for problem below: Purchased merchandise on account from Johnson Company for $30000 Terms 2/10, n/30,FOB shipping point. We were
Please show Help show journal entries for problem below:
- Purchased merchandise on account from Johnson Company for $30000
Terms 2/10, n/30,FOB shipping point. We were billed $450 for shipping which was added to our invoice.
2. Sold $27000 of Merchandise on account to James Company, terms 1/20, n/30, FOB shipping point. The cost of merchandise sold was $15000 and we paid $750 for
shipping which was billed and added to the customer's invoice.
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
