Question

What is the normal balance of freight-in or transportation-in? Group of answer choices Debit because it is increase in asset Depends if it is considered an increase in asset or an increase in liability Debit because it is an expense Credit because it increases the cost of sales Credit because it is a payable

Name: what is the normal balance of freight in or transportation in group of answer choices debit because it is increase in asset depends if it is considered an increase in asset or an increase in 02864
Uploaded: 2024-03-16T13:04:09-08:00
Duration: 2 min
Channel: Matthew Wagner
Description: what is the normal balance of freight in or transportation in group of answer choices debit because it is increase in asset depends if it is considered an increase in asset or an increase in 02864

          What is the normal balance of freight-in or transportation-in?
Group of answer choices
Debit because it is increase in asset
Depends if it is considered an increase in asset or an increase in liability
Debit because it is an expense
Credit because it increases the cost of sales
Credit because it is a payable

Added by Parker C.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Matthew Wagner

03/16/2024

Step 1

It is the cost incurred to transport goods to a business, which is typically added to the cost of inventory. Show more…

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What is the normal balance of freight-in or transportation-in? Group of answer choices Debit because it is increase in asset Depends if it is considered an increase in asset or an increase in liability Debit because it is an expense Credit because it increases the cost of sales Credit because it is a payable