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d. ayable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are consigned n/30 FOB shipping point a. b. C. d. FOB destination 4. Account type and normal balance of the Purchases Account: Asset, DR a. b. Asset, CR C. Expense, DR d. Expense, CR

d. ayable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are consigned n/30 FOB shipping point a. b. C. d. FOB destination 4. Account type and normal balance of the Purchases Account: Asset, DR a. b. Asset, CR C. Expense, DR d. Expense, CR

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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d. Accounts Payable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are consigned b. n/30 FOB shipping point a. C. d. FOB destination 14. Account type and normal balance of the Purchases Account: Asset, DR b. Asset, CR Expense, DR a. C. d. Expense, CR ll include Discounts
Transcribed Image Text:d. Accounts Payable 13. If title to merchandise purchases passes to the buyer when the goods are delivered to the buyer, the terms are consigned b. n/30 FOB shipping point a. C. d. FOB destination 14. Account type and normal balance of the Purchases Account: Asset, DR b. Asset, CR Expense, DR a. C. d. Expense, CR ll include Discounts
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