Answered: Explain the difference between freight…

Explain the difference between freight in and freight out. Who pays for each? Who owns the goods while they are in transit? What type of account is freight in? What type of account is freight out?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 3QY

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Explain the difference between freight in and freight out. Who pays for each? Who owns the goods while they are in transit? What type of account is freight in? What type of account is freight out?

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