Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent...

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Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent excise tax and a two percent state sales tax. a. What amount of revenue is recorded? b. Prepare a general journal entry to record the transaction on the books of Clifford Company. Round all answers to the nearest dollar. a. Amount of recorded revenue $ 0 b. Date Dec.31 Excise Tax Payable Sales Tax Payable ► General Journal Description ✪ + To record sale on account subject to excise tax and sales tax. $ Debit 0 $ OOO 0 0 0 Credit OOOO 0 0 0 Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent excise tax and a two percent state sales tax. a. What amount of revenue is recorded? b. Prepare a general journal entry to record the transaction on the books of Clifford Company. Round all answers to the nearest dollar. a. Amount of recorded revenue $ 0 b. Date Dec.31 Excise Tax Payable Sales Tax Payable ► General Journal Description ✪ + To record sale on account subject to excise tax and sales tax. $ Debit 0 $ OOO 0 0 0 Credit OOOO 0 0 0

Answer rating: 100% (QA)

Answer Solution a Amount of revenue recorded is 10... View the full answer