Sale on its income statement for fiscal

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Reference no: EM13793208

On December 28, 2012 Piedmont Supply Co. ships $155,000 of merchandise by common carrier to the Maxwell Company. The terms of the sale are 3/15, n/45, FOB destination. It takes 5 days for the merchandise to arrive at Maxwell Company. Both Piedmont Supply Co. and Maxwell Company have December 31 year-ends. Can Piedmont Supply Co. report this sale on its income statement for fiscal 2012? Why?

Reference no: EM13793208

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