Multiple Choice
If the shipping terms are FOB shipping point and the freight bill is $200, the purchaser, using a periodic inventory system would record payment of the freight with a debit to:
A) Inventory and credit to Cash for $200.
B) Freight In and a credit to Cash for $200.
C) Inventory and credit to Purchases Discounts for $200.
D) Purchases Discounts and credit to Inventory for $200.
Correct Answer:
Verified
Correct Answer:
Verified
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