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The Wilson Company purchased $42,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,500 for freight costs to have the goods shipped to
The Wilson Company purchased $42,000 of merchandise from the Poole Wholesale Company. Wilson also paid $3,500 for freight costs to have the goods shipped to its location. Which of the following statements regarding the necessary entries for the transactions is true? Wilson uses the perpetual inventory system. |
rev: 10_29_2015_QC_CS-31664
Transportation-in would be debited for $3,500.
Total debits to the inventory account would be $42,000.
Total debits to the inventory account would be $3,500.
Total debits to the inventory account would be $45,500.
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