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    TraceyP's Avatar
    TraceyP Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 12, 2008, 01:16 PM
    Journalizing Freight In
    I need help with this journal entry:

    Issued check no. 433 to Mercury Tramsit Company for freight charges on merchandise purchased (Freight In) $1,200.00

    How do I write in on the General Journal. I can't figure it out.
    949's Avatar
    949 Posts: 31, Reputation: 2
    Junior Member
    		  
    #2

    Jul 15, 2008, 11:44 AM
    The entry depends on the which system you use. Perpetual or periodic.

    Perpetual is:
    Dr. Merch Inv. 1200
    Cr. Cash 1200

    Periodic is:
    Dr. Freight In. 1200
    Cr. Cash. 1200
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