All the beds received a shipment of bed sheets on August 8th, 2019. The value of the bed sheets was $13,000 and the sheets were shipped FOB shipping point. Freight charges came to $350. The company uses the perpetual inventory system.
a) Prepare the journal entry to record the receipt of good by All the Beds, assuming the payment will be made in September
c) Journal the transaction for All the Beds when the payment was made on September 8th, 2019
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All the beds received a shipment of bed sheets on
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Thank you for taking a look at this! All information is given in
this sheet.
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I
need help making my debits and credits equal to $20,743.
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