Solved

Park, IncPurchased Merchandise from Jay Zee Music Company on June 5

Question 58

Multiple Choice

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.
When did title to the merchandise transfer from Jay Zee Music Company to Park?


A) June 5, 2015
B) June 10, 2015
C) June 13, 2015
D) Cannot be determined from the information provided

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions