Cullumber Corporation made credit sales of $25,800 which are subject to 7% sales tax. The corporation...

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Cullumber Corporation made credit sales of $25,800 which are subject to 7% sales tax. The corporation also made cash sales which totaled $27,071 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Cullumber's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Accounts Receivable Sales Revenue Sales Taxes Payable eTextbook and Media List of Accounts Save for Later Debit 27071 Credit 25300 1771 Attempts: 1 of 5 used Submit Answer Cullumber Corporation made credit sales of $25,800 which are subject to 7% sales tax. The corporation also made cash sales which totaled $27,071 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Cullumber's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Accounts Receivable Sales Revenue Sales Taxes Payable eTextbook and Media List of Accounts Save for Later Debit 27071 Credit 25300 1771 Attempts: 1 of 5 used Submit Answer

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To record Cullumber Corporations credit sales the following entr... View the full answer