EX5#14: Beck Retailer Inc. uses a perpetual inventory system. On November 30, Beck purchased $5,000...
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EX5#14: Beck Retailer Inc. uses a perpetual inventory system. On November 30, Beck purchased $5,000 merchandise on account, terms 3/10, n/30 with delivery terms of FOB Shipping Point. Beck paid United Freight Company $200 cash for freight charges. The journal entry for freight charges requires a DEBIT to: A. Operating Expense for $200. B. Cash for $200. c. Freight-out for $200. D. Inventory for $200
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