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- Freight_expense abstract "In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. It falls under the umbrella category of expenses and is treated like other expense accounts in relation to the accounting equation, however, under generally accepted accounting rules, if the freight is considered part of the cost of an asset it is recorded as part of the value of the asset on the balance sheet as laid down cost. Freight expense has a normal debit balance. Increases are recorded as debits while decreases are recorded as credits. In relation to other accounts, the Freight Expense account is similar to the \"Cost of Sales-Freight\" account, but are two totally different entities. While the Freight Expense account is increased for payments towards outgoing goods, the Cost of Sales-Freight account is increased for payments towards incoming goods.For example, suppose you have a business that imports and exports a type of product. When you deliver goods to customers and you pay for the delivery costs, you increase the Freight Expense account with a debit and the Cost of Sales-Freight is unaffected. However, when you purchase goods from a supplier and you pay for the delivery costs, you increase the Cost of Sales-Freight account and the Freight Expense account is unaffected.".
- Freight_expense wikiPageExternalLink ifpm032_t_transportgistics.pdf.
- Freight_expense wikiPageID "1559714".
- Freight_expense wikiPageLength "1803".
- Freight_expense wikiPageOutDegree "9".
- Freight_expense wikiPageRevisionID "683573585".
- Freight_expense wikiPageWikiLink Accounting.
- Freight_expense wikiPageWikiLink Accounting_equation.
- Freight_expense wikiPageWikiLink Asset.
- Freight_expense wikiPageWikiLink Balance_sheet.
- Freight_expense wikiPageWikiLink Category:Expense.
- Freight_expense wikiPageWikiLink Debits_and_credits.
- Freight_expense wikiPageWikiLink Expense.
- Freight_expense wikiPageWikiLink Laid_down_cost.
- Freight_expense wikiPageWikiLinkText "Freight expense".
- Freight_expense wikiPageUsesTemplate Template:Accounting-stub.
- Freight_expense wikiPageUsesTemplate Template:Refimprove.
- Freight_expense wikiPageUsesTemplate Template:Reflist.
- Freight_expense subject Category:Expense.
- Freight_expense comment "In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. It falls under the umbrella category of expenses and is treated like other expense accounts in relation to the accounting equation, however, under generally accepted accounting rules, if the freight is considered part of the cost of an asset it is recorded as part of the value of the asset on the balance sheet as laid down cost.".
- Freight_expense label "Freight expense".
- Freight_expense sameAs Q5501376.
- Freight_expense sameAs m.05bc9z.
- Freight_expense sameAs Q5501376.
- Freight_expense wasDerivedFrom Freight_expense?oldid=683573585.
- Freight_expense isPrimaryTopicOf Freight_expense.