Journalize the entries to record the following selected transactions: a. Sold $22,600 of merchandise on account, subject
Question:
Journalize the entries to record the following selected transactions:
a. Sold $22,600 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $13,600.
b. Paid $51,668 to the state sales tax department for taxes collected.
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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