Nov 04, 19The FOB point can either be the buyers destination, or the place from which the goods are shipped – the shipping point FOB Destination Accounting FOB destination, is used to mean the seller of the goods pays all expenses in putting the goods 'on board' the transport, and delivering them to the buyers destinationPurchased merchandise from Horvath, Inc $7, FOB destination, terms 2/10, n/30 Inventory 7 Accounts Payable 7 Paid Amland Distributors in full, less discount Amland Distributors $1,0, FOB shipping point, terms 2/10, n/30 Accounts Payable 10 Inventory 24 Cash 1176 Made refunds to cash customers for defective merchandise $80Mar 24, 13O'Quinn Co distributes suitcases to retail stores and extends credit terms of 2/10, n/30 to all of its customers At the end of June, O'Quinn's inventory consisted of suitcases costing $1,800 During the month of July, the following merchandising transactions occurred July 1 Purchased suitcases on account for $2,500 from Eme...