On December 23, 2018, Silverman Sports Manufacturing sells a truckload of merchandise to the Baseball World store
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On December 23, 2018, Silverman Sports Manufacturing sells a truckload of merchandise to the Baseball World store in Cincinnati, Ohio. The terms of the sale are FOB destination. The truck runs into bad weather on the way to Cincinnati and doesn’t arrive until January 2, 2019. Silverman’s invoice totals $160,000. The company’s year-end is December 31. What amount should Silverman reflect in its 2018 income statement for this sale?
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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