Exercise 6-47 Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments...
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Exercise 6-47 Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.O.B. shipping point, had a total invoice price of $142,500, and was delivered by a trucking company that charged an additional $8,300 for transportation charges from Digital. The second was shipped F.O.B. shipping point and had a total invoice price of $87.250, including transpor- tation charges of $5,700 that were prepaid by the seller. The third shipment was shipped F.O.B. destination and had an invoice price of $21,650, excluding transportation charges of $1.125 paid by the seller. Digital uses a perpetual inventory system. Digital has not paid any of the invoices. Required: Prepare journal entries to record these purchases
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