Question 23 Select the correct analysis and entry for the following transaction for ABC Company. ABC sold $6,500 of merchandise inventory on account, FOB Shipping Point. The shipping cost of $65 were paid in cash by the appropriate party. Select the option that represents how ABC should record the shipping cost. Account DR CR Option A Inventory 65 Cash 65 Account DR CR Option B Shipping Expense 65 Cash 65 Account DR CR Option C Freight-Out 65 Accounts Payable 65 Account DR CR Option D Cash 65 Inventory Option E No Entry Required - Buyer Pays Freight 65