Who is responsible for the freight costs when the terms are FOB ...

[Lobcity]

Who is responsible for the freight costs when the terms are FOB shipping point?
 a. the ultimate customer
  b. the buyer
  c. the seller
  d. either the seller or the buyer

Question 2

Mariner, Inc bought a lobster boat on November 1, 2011 in exchange for a 2-month, 6, 80,000 note. The note plus interest will be repaid on January 1, 2012, the maturity date.
 
  How much interest expense should the company report on its income statement for the month ended November 30, 2011?
  A) 0
  B) 4,800
  C) 400
  D) 800

[Harbringer]

Answer to Question 1

b

Answer to Question 2

C

[Lobcity]

Thanks for the timely response, appreciate it

[Liamb2179]

TYSM