FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are de a. n/30 h FOB shipping point FOB destination C. d. consigned when goods are shipped FOR destination and the seller pays the transportation charges, the buyer 4. a. journalizes a reduction for the cost of the merchandise. b. journalizes a reimbursement to the seller. does not take a discount. C. d. makes no journal entry for the transportation. nhandise on account FOB shipping point, f the
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Transcribed Image Text:If title to merchandise purchases passes to the buyer when the goods are shipped from the seller, the terms are de a. n/30 h FOB shipping point FOB destination C. d. consigned when goods are shipped FOR destination and the seller pays the transportation charges, the buyer 4. a. journalizes a reduction for the cost of the merchandise. b. journalizes a reimbursement to the seller. does not take a discount. C. d. makes no journal entry for the transportation. nhandise on account FOB shipping point, f the
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