Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on account, subject

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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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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 06, 2021 05:58 AM

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Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on account, subject

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Accounting

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