Journalize the entries to record the following selected transactions: a. Sold $22,600 of merchandise on account, subject

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Journalize the entries to record the following selected transactions:

a. Sold $22,600 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $13,600.

b. Paid $51,668 to the state sales tax department for taxes collected.

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Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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Question Posted: Feb 28, 2014 08:04 AM

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Journalize the entries to record the following selected transactions: a. Sold $22,600 of merchandise on account, subject

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Corporate Financial Accounting

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