Journalize the entries to record the following selected transactions: a. Sold $12,900 of merchandise on account, subject
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a. Sold $12,900 of merchandise on account, subject to a sales tax of 4%. The cost of the merchandise sold was $7,800.
b. Paid $32,750 to the state sales tax department for taxes collected.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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