Multiple Choice
The journal entry to record the purchase of merchandise on account for $2,750 with freight of $125 prepaid and added to the invoice is:
A) debit Purchases $2,750; credit Accounts Payable $2,750
B) debit Accounts Payable $2,875, debit Freight in $125; credit Purchases $2,750
C) debit Purchases $2,750, debit Freight In $125; credit Accounts Payable $2,875
D) debit Accounts Receivable $2,875; credit Sales $2,875
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Hugh Snow returned merchandise to Farley Co.The
Q13: A firm had purchases of $16,200,freight charges
Q25: One of the supplier accounts from the
Q28: If a business uses pre numbered purchase
Q29: One of the supplier accounts from the
Q32: At the end of September 2013 and
Q34: On November 30, 2013, the general ledger
Q35: Credit purchases of supplies that are to
Q47: Tune Tones Instrument Tuning Company owes Mandy
Q61: The entry to record the return of