Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on account, subject
Question:
Journalize the entries to record the following selected transactions:
a. Sold $62,800 of merchandise on account, subject to a sales tax of 5%. The cost of the merchandise sold was $37,500.
b. Paid $39,650 to the state sales tax department for taxes collected?
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a Accounts Receivable 65940 Sales ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
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