The Following Events Apply to Deb's Dance Wholesalers

question 34

Essay

The following events apply to Deb's Dance Wholesalers.Sold merchandise to a customer. The goods were shipped FOB destination, with a freight cost of $50.Purchased merchandise with freight cost of $75, shipped with the terms FOB shipping point.Sold merchandise to a customer with freight cost of $40, shipped FOB shipping point.
Required:Based on the above events, what is the total amount of freight that will be paid by Deb's Dance Wholesalers?How much of the freight cost will be recorded as an expense when incurred?

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Definitions:

Expenditure

The total amount of money spent by individuals, organizations, or governments on goods and services within a specific period.

Concierge Company

A service-oriented business providing personalized services to clients, such as making reservations, arranging travel, and other personal requests.

Everyday Services

Services that are used by consumers on a daily basis, such as transportation, banking, and communications.

Tangible Goods

Physical items that can be seen, touched, and possessed, as opposed to services or digital goods.