Company S shipped goods costing $10,000 to Company C on consignment. The sales agreement states that Company
Question:
$16,000 for them or to return the goods to Company S. Make the journal entries necessary on the books of Company S to record
(1) The original shipment of the goods to Company C and
(2) The expiration of the 90-day period without the goods being returned by Company C. Company S uses a perpetual inventory system.
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Related Book For 
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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