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A computer retailer buys computers for resale. Since the buyer (computer retailer) will be paying the freight cost of $625.00 in 30 days, which is the proper journal entry fpr the computer retailer? Assume a perpetual inventory system. O Debit freight in and credit A/P Debit inventory and credit Cash. O Debit Freight in and credit Cash O Debit inventory and credit A/P

A computer retailer buys computers for resale. Since the buyer (computer retailer) will be paying the freight cost of $625.00 in 30 days, which is the proper journal entry fpr the computer retailer? Assume a perpetual inventory system. O Debit freight in and credit A/P Debit inventory and credit Cash. O Debit Freight in and credit Cash O Debit inventory and credit A/P

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A computer retailer buys computers for resale. Since the buyer (computer retailer) will be paying the freight cost of $625.00 in 30 days, which is the proper journal entry fpr the computer retailer? Assume a perpetual inventory system. O Debit freight in and credit A/P Debit inventory and credit Cash. O Debit Freight in and credit Cash O Debit inventory and credit A/P
Transcribed Image Text:A computer retailer buys computers for resale. Since the buyer (computer retailer) will be paying the freight cost of $625.00 in 30 days, which is the proper journal entry fpr the computer retailer? Assume a perpetual inventory system. O Debit freight in and credit A/P Debit inventory and credit Cash. O Debit Freight in and credit Cash O Debit inventory and credit A/P
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