Question

In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.
1. Kemer Company rings up sales and sales taxes separately on its cash register. On April 10, the register totals are sales TL30,000 and sales taxes TL1,500.
2. Bodrum Company does not segregate sales and sales taxes. Its register total for April 15 is TL23,540 which includes a 7% sales tax.

Instructions
Prepare the entry to record the sales transactions and related taxes for each client.



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  • CreatedMarch 11, 2013
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