Martin Co. sold merchandise to Fess Company on December 31, FOB shipping point. If the merchandise is

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

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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Question Posted: Nov 07, 2012 02:49 AM

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Martin Co. sold merchandise to Fess Company on December 31, FOB shipping point. If the merchandise is

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