Question
What is the adjusting journal entry for: Merchandise in transit and to which the company had title at December 31, 2006 and 2007 was not
What is the adjusting journal entry for:
Merchandise in transit and to which the company had title at December 31, 2006 and 2007 was not included in the year-end inventories. These shipments of $3,800 and $5,500 were recorded as purchases in January of 2007 and 2008, respectively.
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
