Park, Inc.purchased merchandise from Jay Zee Music Company on June 5, 2015.The goods were shipped the same day.The merchandise's selling price was $15,000.The credit terms were 1/10, n/30.The shipping terms were FOB shipping point.Park received the merchandise on June 10, 2015.Park paid the amount due on June 13, 2015.
Who is responsible for payment of the transportation costs on the merchandise sold by Jay Zee Music to Park?
A) Jay Zee Music Company
B) Park, Inc.
C) Split equally between the two companies
D) Cannot be determined from the information provided
Correct Answer:
Verified
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