Purchase of merchandise with freight$-$in$.$

a$.$ Merchandise is purchased on account, $$2,900$ plus freight charges of $$100.$ Terms of the sale were FOB shipping point.

b$.$ Payment is made for the cost of merchandise and the freight charge.

cash

Accounts Pajyable

Purchases

reoberk

Torok My Work

The journal entry for cash purchase of merchandice imolves an increase in purchases and a decrease in cash.

Trade discounts are not recorded in the accounting records. The net amount is used in the journal enty.

The journal entry for the purchase of merchandise on account involves an increase in purchases ans in accounts parable$/$Vendor

The journal emtry for payment on account within the discount period imolves decreases in accounts payable$/$vendor name and cas

The journal entry for return of merchandise for crede imolves a decrease in accounts payable$/$Vender Name and an increase in py

The journal entry for purchases on account with freight cherges and rOB avpping paint terms involves an increase in purchases