For Accounting, I need help knowing how to journalize the following transaction:

Paid freight bill of $70 on September 3 purchase.

The accounts that are available to use are:
- Accounts Payable
- Accounts Receivable
- Cash
- Cost of Goods Sold
- Delivery Expense
- Estimated Returns Inventory
- Freight In
- Merchandise Inventory
- Purchase Discounts
- Purchase Returns and Allowances
- Purchases
- Refunds Payable
- Sales Revenue

I'd appreciate any help I can get with this!

Question

06-03-2021
Business

Answered

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For Accounting, I need help knowing how to journalize the following transaction:

Paid freight bill of $70 on September 3 purchase.

The accounts that are available to use are:
- Accounts Payable
- Accounts Receivable
- Cash
- Cost of Goods Sold
- Delivery Expense
- Estimated Returns Inventory
- Freight In
- Merchandise Inventory
- Purchase Discounts
- Purchase Returns and Allowances
- Purchases
- Refunds Payable
- Sales Revenue

I'd appreciate any help I can get with this!

Sagot :

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