Shipping casts were PG00. Pascual received the goods and Ilono's Involce on June 17.On June 16, 2020, lano 5old merchandise to Pascuol for P6,000, terms 2/10, n/30,342 Basic Financlal Accounting and Ruporting 2021 Edition by Pro)llano and PaScual use the periodlc inventory system. The following are severala. Shipping terms are F.O.B, shipping point, freight collect. Pascual pald the shipping2. Prepare the entries for Pascual to record the purchase, the freight payment, and theSCORE:NAME:PROFESSOR:SECTION:Problem #11Transportation CostsOn June 24, Pascual sent the payment to Ilano, which Ilano raceived on June 25. D.arrangements regarding the shipping costs:costs on June 17 and remittad P5,880 on June 24.Required:1. Prepare the entries for Ilano to record the sale and the cash receipt.2. Prepare the entries for Pascual to record the purchase, the payment of shippingcosts, and the cash remittance.6 Shipping terms are F.O.B. destination, freight prepaid. llano paid the shippingcosts on June 16. Pascual remitted P5,880 on June 24.Required:1. Prepare the entries for llano to record the sale, the payment of shipping costs, andthe cash receipt.2 Prepare the entries for Pascual to record the purchase and the cash remittance.Shipping terms are F.O.B. shipping point, freight prepaid. llano paid the shippingcosts on June 16 and added the P600 cost to the invoice sent to Pascual Pascualremitted P6,480 on June 24.Required:1. Prepare the entries for llano to record the sale and freight payment, and the cashrecelpt.2. Prepare the entries for Pascual to record the purchase (with shipping costs added tothe involce from llano) and the cash remittance.d Shipping terms are F.O.B. destination, freight collect. Pascual paid the shipplngcosts on June 17 and deducted the P600 from the amount owed to llano A copy o)the frelght bill to llano was provided with the June 24 cash remittance. Pascuolremitted P5,280 on June 24.Required:L Prepare the entries for Illano to record the sale and the cash receipt.cash remittance.

11. On 16.06.2020, Illano sold goods to Pascual = P6000 Term 2/10, n/30 Shipping costs = P600…

Problem #11 Transportation Costs On June 16, 2020, flano 5old merchandise to Pascual for P6,000, terms 2/10, n/30. Shipping casts were PG00. Pascual recelved the goods and llono's invoíce on JuRR On June 24, Pascual sent the payment to llano, which llano raceived on June 25 llano and Pascual use the periodic inventory system. The following are several arrangements regarding the shipping costs: a. Shipping terms are F.O.B. shipplng point, freight collect. Pascual paid the shipoine costs on June 17 and remittad P5,880 on June 24. Required: 1. Prepare the entries for llano to record the sale and the cash receipt. 2. Prepare the entries for Pascual to record the purchase, the payment of shipping costs, and the cash remittance.

Problem #11 Transportation Costs On June 16, 2020, flano 5old merchandise to Pascual for P6,000, terms 2/10, n/30. Shipping casts were PG00. Pascual recelved the goods and llono's invoíce on JuRR On June 24, Pascual sent the payment to llano, which llano raceived on June 25 llano and Pascual use the periodic inventory system. The following are several arrangements regarding the shipping costs: a. Shipping terms are F.O.B. shipplng point, freight collect. Pascual paid the shipoine costs on June 17 and remittad P5,880 on June 24. Required: 1. Prepare the entries for llano to record the sale and the cash receipt. 2. Prepare the entries for Pascual to record the purchase, the payment of shipping costs, and the cash remittance.

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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Complete all requiremnts in pic
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