Question - Use the following information for transactions 18 and 19. You are the SELLER. You sell merchandise on account for $12,000. The merchandise cost you $7,200. The terms are FOB shipping, 2/10, n/30. You receive a bill from UPS for $190 for transportation costs. The customer takes advantage of the sales discount when he pays you. Record the following transactions. SPELLING COUNTS!
Sale of the merchandise, taking into consideration transportation charges (if necessary).
Receipt of payment from the customer.