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Purchased machinery from Germany costing $50,000. Shipping cost was $5,000 and customs clearing charges were $2,000. Amount to be paid in 30 days. Pass

Purchased machinery from Germany costing $50,000. Shipping cost was $5,000 and customs clearing charges were $2,000. Amount to be paid in 30 days. Pass the journal entry for FOB Destination method Your answer If I am a buyer, which method of transfer of Ownership I would prefer and WHY? Your answer

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