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Review the following situation and record the journal entry for Nine Lives Inc: On January 23 Nine Lives Inc. sells $4,520 worth of merchandise
Review the following situation and record the journal entry for Nine Lives Inc: On January 23 Nine Lives Inc. sells $4,520 worth of merchandise to a customer who pays with cash. The merchandise has a cost to Nine Lives of $3,600. Shipping charges are an extra $190 cash. Terms of the sale are FOB Destination. Journal entry: January 23 To record shipping charges.
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To record the sale of merchandise on January 23 with cash payment and FOB destination terms the fol...
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Principles Of Accounting Volume 1 Financial Accounting
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
1st Edition
1593995946, 978-1593995942
