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F.O.B. Shipping Point indicates that: Select one: a. Merchandise should be...

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Accounting

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F.O.B. Shipping Point indicates that: Select one: a. Merchandise should be included in the seller's inventory as of the date it is shipped by the seller. b. The seller should record sales revenue as soon as the merchandise has been shipped. c. Title to the merchandise does not pass to the buyer until receipt at the buyer's warehouse. d. Title to the merchandise passes to the seller upon shipment by the seller. e. The buyer should record sales revenue as soon as the merchandise has been shipped. During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value of the land after the mineral has been removed. Geological surveys have indicated that 12 million units of the mineral could be extracted. During 2017,1,500,000 units were extracted and 1,200,000 units were sold. What is the amount of depletion affecting the 2017 income statement? Select one: a. $130,000 b. $156,000 C. $150,000 $150,000 d. $195,000 e. $162,500 $162,500 $162,500

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