Vision Electronics sells a cellular phone on July 2 for $850. On July 10, Vision Electronics sells another cellular phone for $850. Sales tax is computed at 5% of the total sale. Prepare revenue journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on August 8.

Answer rating: 100% (QA)

To prepare the revenue journal entries for the sale of the cellular phones and the remittance of sales tax we need to account for the sales amount sal... View the full answer