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vampirchik [111]
3 years ago
9

Fits Like A Glove Shoes, Inc., and Retail Footwear Stores enter into a contract for a sale of shoes. The contract indicates that

the price includes transportation costs to a specific destination by including the term​____.
A) ​C.I.F.
B) ​delivery ex-ship.
C) ​F.A.S.
D) ​F.O.B.
Business
1 answer:
andre [41]3 years ago
6 0

Answer:

D) ​F.O.B.

Explanation:

Based on the scenario being described within the question it can be said that the included term would be F.O.B. This is a contractual term meaning Free on Board, and immediately specifies that the seller will deliver the goods at their own cost , through a specific route to the destination set forth by the buyer. Once the goods arrive the responsibility is no longer the sellers.

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Answer:

Entry is given below

Explanation:

As Givens brick company is paying off the liability of note payable and the interest amount therefore, it will be debited as it is a decrease in liability. Cash will be credited as it is our asset and its decreasing.

Entry                      DEBIT          CREDIT

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Interest                 $36,000(w)

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Working

Interest = $600,000 x 8% x9/12

Interest = $36,000

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