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Business, 07.05.2020 06:58 Angelofpink1143

The Horton Corporation accepted the delivery on August 15, 2017 of merchandise that it had purchased on account. As of August 31, Horton, which uses the periodic method, had not recorded the transaction or included the merchandise in its inventory. What is the impact of this on their August 31, 2017 balance sheet?

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