On April 10, Tyler Industries paid $200 cash to a trucker who delivered the $22,000 of merchandise. Prepare the appropriate journal entry dated April 10. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

The Tyler industries would record the following journal entry for the cash paid to a trucker. It has been assumed that the Tyler industries uses perpetual inventory system and goods were purchased on the terms of FOB shipping point.  

DateAccount Title and Explanation       Debit                  Credit

Apr. 10Merchandise inventory                     $200  

                         Cash                                                $200

     ( To record freight-in charges paid)  

Thus, Merchandise inventory is to be debited and cash is to be credited.

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