On November 30,Janoch's Dog Kennel purchased $600 of merchandise on account from the Ganster Company.The goods were shipped F.O.B.shipping point.The freight charge of $40 was paid by Ganster Company and added to the invoice.The amount to record in the Purchases account is:
A) $600.
B) $640.
C) $560.
D) $550.
Correct Answer:
Verified
Q7: F.O.B. shipping point means:
A) the buyer pays
Q35: The return of merchandise was recorded as
Q36: The term F.O.B.means:
A)free on board.
B)freight or bill.
C)freight
Q38: A purchase discount was recorded as a
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Q48: A receiving report is used to notify
Q51: When the terms are F.O.B. shipping point,
Q72: To prove the subsidiary ledger agrees with
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