Homework Clinic

Social Science Clinic => Accounting => Topic started by: danielfitts88 on Jul 5, 2018

Title: In a periodic inventory system, the cost of merchandise purchased includes the cost of freight in. ...
Post by: danielfitts88 on Jul 5, 2018

In a periodic inventory system, the cost of merchandise purchased includes the cost of freight in.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The adjusting entry to accrue interest owed on a note payable will include a ________.
 
  A) credit to Interest revenue
  B) credit to Interest receivable
  C) credit to Interest expense
  D) credit to Interest payable

Title: In a periodic inventory system, the cost of merchandise purchased includes the cost of freight in. ...
Post by: efwsefaw on Jul 5, 2018

Answer to Question 1

True

Answer to Question 2

D

Title: In a periodic inventory system, the cost of merchandise purchased includes the cost of freight in. ...
Post by: danielfitts88 on Jul 5, 2018

Correct answers!

Title: In a periodic inventory system, the cost of merchandise purchased includes the cost of freight in. ...
Post by: efwsefaw on Jul 5, 2018

Great! Please up vote :D