Cartier Company purchased inventory from Pissaro Company. The shipping costs were P400 and the terms of the
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Question:
Cartier Company purchased inventory from Pissaro Company. The shipping costs were P400 and the terms of the shipment were FOB shipping point. Cartier would have the following entry regarding the shipping charges: *
(DR) Freight-out 400 (CR) Cash 400
(DR) Merchandise Inventory 400 (CR) Cash 400
(DR) Freight Expense 400 (CR) Cash 400
There is no entry on Cartier's books for this transaction.
Related Book For
Digital Systems Principles And Application
ISBN: 9780134220130
12th Edition
Authors: Ronald Tocci, Neal Widmer, Gregory Moss
Posted Date: