Journalize the entries to record the following selected transactions: a. Sold $15,750 of merchandise on account, subject
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a. Sold $15,750 of merchandise on account, subject to a sales tax of 8%. The cost of the merchandise sold was $9,450.
b. Paid $29,183 to the state sales tax department for taxes collected.
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Related Book For
Accounting
ISBN: 978-0324401844
22nd Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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