What is the sales journal used for? Why do we have special journals? Who pays the sales taxes on a transaction? How often is a business owner required to submit the sales taxes that were collected to the governing authorities? Are sales taxes submitted to the Federal Government or the State Government? Explain what determines the frequency of submission of taxes?

Answer rating: 100% (QA)

The sales journal is used to record all sales transactions made by a business It provides a systematic way to track sales revenue accounts receivable ... View the full answer