Lindstrom Design Services billed its customers a total of $245,100 for the month of August, including 9

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Lindstrom Design Services billed its customers a total of $245,100 for the month of August, including 9 percent federal excise tax and 5 percent sales tax.
1. Determine the proper amount of service revenue to report for the month.
2. Prepare a journal entry to record the revenue and related liabilities for the month.

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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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