accounting people: what is freight out classified as?

[RIGorous1]

expense? Cost of goods sold? something else?

 

[z0mb13]

u writing this on a journal??

 

[RIGorous1]

Originally posted by: z0mb13
u writing this on a journal??

yes

 

[z0mb13]

wait freigh out is when u buy merchandize?? or when u made a sale then u pay for the shipping??

 

[Shockwave]

Cost of goods sold??

 

[KLin]

Originally posted by: z0mb13
wait freigh out is when u buy merchandize?? or when u made a sale then u pay for the shipping??

Or producing a product and shipping it out via rail, dock, truck, etc. etc. I'd say cost of goods sold. I'm not an accountant, but I did stay at a holiday inn express last night

 

[z0mb13]

damn I cant believe this thread made me look at my accounting notes..

the journal will be like this:

fhreight out xxxxx
Cash xxxxx

Yes there should be a separate freight out account

damn the indentation is fked up... freight out should be debit, cash should be credit