Question: Wheeling computing sells merchandise for 12000 cash on september 30
Wheeling Computing sells merchandise for $12,000 cash on September 30 (cost of merchandise is $7,800). The sales tax law requires Wheeling to collect 6% sales tax on every dollar of merchandise sold. Record the entry for the $12,000 sale and its applicable sales tax. Also record the entry that shows the remittance of the 6% tax on this sale to the state government on October 15.
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