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If we transport goods from branch (A) to branch (b) How we record transportation costs?

Accounting Auditing Financial Accounting Economics managerial accounting
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Question added by Hashem Albasha , Accounting Support Adviser , AL Mustwa AL Raqi
Date Posted: 2017/01/17
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Soliman Abd ALmalak Gendy
by Soliman Abd ALmalak Gendy , مدير ادارة مراقبة حسابات , الجهاز المركزى للمحاسبات

In this cace, the journal entry in rectds B is as it is: Debit inventory Credit Cash

Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate
by Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

 

Using perpetual system, the journal entry would be as follows:

[Debit]. Inventory  [Credit]. Cash

And, using periodic system would be:

[Debit]. Freight In [Credit]. Cash

 

 

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