Paying freight on purchased merchandise
Transaction
A store bought merchandise FOB shipping point, so it pays the shipping. On delivery it pays the trucking company $360.00 in cash. The supplier’s invoice for the goods was recorded earlier.
Assumptions: Perpetual inventory: each sale also records its cost of goods sold.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
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Credit
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Debits $0.00Credits $0.00
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