On February 12, Clare purchased $400 of merchandise on account from Larsen's Accessories, terms 2/10, n/30. The
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Question:
On February 12, Clare purchased $400 of merchandise on account from Larsen's Accessories, terms 2/10, n/30. The goods were shipped to F.O.B.'s destination. The freight charge was $40. The amount to be recorded in the Accounts Payable Subsidiary ledger is:
A. $392
B. $408
C. $400
D. $440
Expert Answer:
Answer c 400 Explanation When the terms of sale is FOB destination ownership of the goods pass... View the full answer
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Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Posted Date:
