Under the Perpetual Inventory System,the Journal Entry to Record the Freight

question 119

Multiple Choice

Under the perpetual inventory system,the journal entry to record the freight paid by the seller on goods sold is:

• A) \[\begin{array} { | l| r | r | }
• \hline \text { Accounts Receivable } & \text { XX } & \\
• \hline \text { Freight Out } & & \text { XX } \\
• \hline \text { Sales Revenue } & & \text { XX } \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Delivery Expenses } & \mathrm { XX } & \\
• \hline \text { Cash } & & \mathrm { XX } \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Cost of Goods Sold } & \text { XX } & \\
• \hline \text { Cash } & & \mathrm { XX } \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Merchandise Inventory } & \mathrm { XX } & \\
• \hline \text { Cash } & & \mathrm { XX } \\
• \hline
• \end{array}\]

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Definitions:

Sour Pickles

A type of food preserved in a solution of vinegar or brine, characterized by its sour taste.

Salivation

The secretion and release of saliva into the mouth, which is often triggered by the sight, smell, or thought of food.

Conditioned Stimulus

An initially neutral trigger that, upon being paired with an unconditioned stimulus, in time elicits a conditioned response.

Novel Stimulus

A new or unfamiliar stimulus that has not been previously experienced by an organism, which can attract attention and elicit responses.