A company uses a perpetual inventory system. It purchased $10,000 of merchandise with terms...
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A company uses a perpetual inventory system. It purchased $10,000 of merchandise with terms of 2/10, n/30. It also must pay a $200 shipping charge. The company paid for both the merchandise and the shipping charge nine days after their invoice date. Which of the following is part of the journal entry the company records when it pays the shipping charge? O A credit to Accounts Payable for $200 A debit to Inventory for $200 A debit to Freight-out for $200 A debit to Cash for $200 O A debit to Freight-in for $200
A company uses a perpetual inventory system. It purchased $10,000 of merchandise with terms of 2/10,n/30. It also must pay a $200 shipping charge. The company paid for both the merchandise and the shipping charge nine days after their invoice date. Which of the following is part of the journal entry the company records when it pays the shipping charge? A credit to Accounts Payable for $200 A debit to Inventory for $200 A debit to Freight-out for $200 A debit to Cash for $200 A debit to Freight-in for $200
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