On January 1.2022, the ledger of Sunland Company contains these liability accounts. Accounts Payable $53,500 Sales...

 

 

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On January 1.2022, the ledger of Sunland Company contains these liability accounts. Accounts Payable $53,500 Sales Taxes Payable 7,200 Unearned Service Revenue 16,500 During January, these selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes 121 Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue) 14 Paid state revenue department for sales taxes collected in December 2021 ($7.200) 20 Sold 900 units of a new product on credit at $50 per sit, plus 8% sales tax. This new product is subject to a 1-year warranty. 21 Borrowed $27,000 from Girard Bank on a 3 month, 8 $27,000 not 25 Sold merchandise for cash totaling $2.884 which includes 8 sales toms Jaumatize the liary transaction (Ceraccount titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem On January 1.2022, the ledger of Sunland Company contains these liability accounts. Accounts Payable $53,500 Sales Taxes Payable 7,200 Unearned Service Revenue 16,500 During January, these selected transactions occurred. Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes 121 Performed services for customers who had made advance payments of $10.500. (Credit Service Revenue) 14 Paid state revenue department for sales taxes collected in December 2021 ($7.200) 20 Sold 900 units of a new product on credit at $50 per sit, plus 8% sales tax. This new product is subject to a 1-year warranty. 21 Borrowed $27,000 from Girard Bank on a 3 month, 8 $27,000 not 25 Sold merchandise for cash totaling $2.884 which includes 8 sales toms Jaumatize the liary transaction (Ceraccount titles are automatically indented when amount is entered. Do not indent manually Record journal entries in the order presented in the problem

Answer rating: 100% (QA)

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