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erastova [34]
3 years ago
9

If a sells to b, and b obtains title while goods are in transit, the goods were shipped _______. if c sells to d, and c maintain

s title until the goods arrive at d's door then the goods were shipped
Business
1 answer:
yKpoI14uk [10]3 years ago
5 0
<span>If a sells to b, and b obtains title while goods are in transit, the goods were shipped FOB SHIPPING POINT.

If c sells to d, and c maintains title until the goods arrive at d's door then the goods were shipped FOB DESTINATION.

FOB stands for Free on Board. The recording of the sale will be dependent on whether it is FOB shipping point or FOB destination. In FOB shipping point, the buyer becomes the owner of the item when it is shipped. In FOB destination, the buyer becomes the owner of the items when it is received. </span>
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Answer and Explanation:

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for Allowance for Doubtful Accounts  

Allowance required as per Current year analysis (2% of (75% of $800,000) $12,000 Credit balance

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The journal entry is  

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The Closing balance of Allowance for Doubtful Accounts 12000 Credit balance

For Bad debt expenses  

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Bad debt expense a/c …Dr   11000  

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The Closing balance of Bad debt expense account 0

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2 years ago
Alexis received paychecks from both her jobs and she would like to deposit them. One check is for $62.88 and the other is $523.2
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