Hutch Co. sold merchandise to Bibbins Company on May 31, FOB shipping point. If the merchandise is

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Hutch Co. sold merchandise to Bibbins Company on May 31, FOB shipping point. If the merchandise is in transit on May 31, the end of the fiscal year, which company would report it in its financial statements? Explain.

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Financial And Managerial Accounting

ISBN: 9781337119207

14th Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

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Question Posted: Feb 28, 2014 09:04 AM

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Hutch Co. sold merchandise to Bibbins Company on May 31, FOB shipping point. If the merchandise is

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