S.A.Q 1.5 ACTIVITY 4: Freight Kim Taehyung paid for P3,000 freight for the goods he purchased from Hoseok Corp. Provide the entries for periodic method both for Kim Taehyung's books and Hoseok Corp's books under the following scenarios: a.) b.) c.) FOB Shipping Point, Freight Collect FOB Shipping Point, Freight Prepaid FOB Destination, Freight Collect FOB Destination, Freight Prepaid

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting For Merchandising Businesses
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S.A.Q 1.5
ACTIVITY 4: Freight
Kim Taehyung paid for P3,000 freight for the goods he purchased from Hoseok Corp.
Provide the entries for periodic method both for Kim Taehyung's books and Hoseok
Corp's books under the following scenarios:
FOB Shipping Point, Freight Collect
FOB Shipping Point, Freight Prepaid
FOB Destination, Freight Collect
FOB Destination, Freight Prepaid
а.)
b.)
Transcribed Image Text:S.A.Q 1.5 ACTIVITY 4: Freight Kim Taehyung paid for P3,000 freight for the goods he purchased from Hoseok Corp. Provide the entries for periodic method both for Kim Taehyung's books and Hoseok Corp's books under the following scenarios: FOB Shipping Point, Freight Collect FOB Shipping Point, Freight Prepaid FOB Destination, Freight Collect FOB Destination, Freight Prepaid а.) b.)
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