And anything that you pay out relative to shipping goods to your customers would go there. Accounting for freight charges is a specific classification in a business’s record books. And, for many companies who ship goods on a regular basis, freight can be a significant expense over the course of the year. Likewise, the journal […]

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Accrued freight is the expenses incurred but not paid, and the liability payment is deferred to another date. As per the Accrual basis of accounting, we need to accrue all the expenses relating to the respective year. Total assets on the balance sheet declined by $200, while expenses on the income statement increased by the […]

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