On sep 21 fitch co sold 840 of merchandise on account

Reference no: EM13611442

On Sep 21, Fitch Co. sold $840 of merchandise on account toEaster Inc. The merchandise was sold on terms of FOB shippingpoint. The freight costs were $36 and were paid in cash byFitch Co. and billed to Easter Inc. on a separate invoice. The costof the merchandise to Fitch was $550.
Note: if needed, sales tax is 5%. However, sales tax isneither paid or collected on freight costs. Freight costswere paid on the date of this transaction.

Reference no: EM13611442

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