a) May 5, Sold merchandise for $4.500 on credit, FOB Destination. Paid $450 for the transportation. Cost
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Question:
a) May 5, Sold merchandise for $4.500 on credit, FOB Destination. Paid $450 for the transportation. Cost of the merchandise sold was $2.250.
Required: Journalize the transaction.
b) May 20 Sold merchandise for $ 1.500 on account, FOB Shipping Point. Cost of the merchandise sold was $ 1.000. Required: Journalize the transaction.
Related Book For
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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