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Q5.9: Caillebotte Company purchased inventory from Pissaro Company. Shipping costs of $400 were paid, and the terms of the shipment were FOB shipping point. Caillebotte

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Q5.9: Caillebotte Company purchased inventory from Pissaro Company. Shipping costs of $400 were paid, and the terms of the shipment were FOB shipping point. Caillebotte would have the following entry regarding the shipping charges? There is no entry on Caillebotte's books for this transaction. B 400 Freight-out Cash 400 400 Inventory Cash 400 400 Freight Expense.......... Cash 400

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