Transactions for buyer and sellerShore Co. sold merchandise to Blue Star Co. on account, $112,000, termsFOB shipping point, 2/10. n/30. The cost of the goods sold is $67,200. Shore paid freight of $1,800. Journalize the entries for Shore and BlueStar for the sale, purchase, and payment of amount due.
Transactions for buyer and sellerShore Co. sold merchandise to Blue Star Co. on account, $112,000, termsFOB shipping point, 2/10. n/30. The cost of the goods sold is $67,200. Shore paid freight of $1,800. Journalize the entries for Shore and BlueStar for the sale, purchase, and payment of amount due.
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
Section: Chapter Questions
Problem 5.5BE
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Transactions for buyer and seller
Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms
FOB shipping point, 2/10. n/30. The cost of the goods sold is $67,200.
Shore paid freight of $1,800.
Star for the sale, purchase, and payment of amount due.
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