Post, Freight and Carriers

Help with these quesitons?

1. Mr. smith bought goods from Terry INC with shipping terms FOB destination, Who has to pay for the freight? 2. Where on the worksheet where does purchase discounts appear

Public Comments

1. 1. Mr. smith bought goods from Terry INC with shipping terms FOB destination, Who has to pay for the freight? FOB destination means the goods belong to, and are the responsibility of, the seller, so Terry Inc. has to pay for the freight. 2. Where on the worksheet where does purchase discounts appear Purchase discounts are contra against purchases, which would appear in the income statement, as part of COGS