Which two accounts are used to recognize shipping charges for a buyer, assuming the buyer purchases with
Question:
Which two accounts are used to recognize shipping charges for a buyer, assuming the buyer purchases with cash and the terms are FOB Shipping Point?
A. Delivery expense, cash
B. Merchandise inventory, cash
C. Merchandise inventory, accounts payable
D. The buyer does not record anything for shipping since it is FOB Shipping Point.
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B Merchandise Inventory Cash Explanation ...View the full answer
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Related Book For 
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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