Question: 2. Elegant Electronics sells a cellular phone on September 2 for $450. On September 6 , Elegant sells another cellular phone for $500. Sales tax

2. Elegant Electronics sells a cellular phone on September 2 for

2. Elegant Electronics sells a cellular phone on September 2 for $450. On September 6 , Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23 . Round to the cent if needed

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare journal...

Question 34 Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare...

EA6. LO 12.2 Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale....

Lamplight Plus sells lamps to consumers. The company contracts with a supplier who provides them with lamp fixtures. There is an agreement that Lamplight Plus is not required to provide cash payment...

Elegant Electronics sells a cellular phone on September 2 for $381. On September 6, Elegant sells another cellular phone for $406. Sales tax is computed at 1.9% of the total sale. What is the sales...

Elegant Electronics sells a cellular phone on September 2 for $ 3 5 6 . On September 6 , Elegant sells another cellular phone for $ 4 6 6 . Sales tax is computed at 4 % of the total sale. What is the...

Elegant Electronics sells a cellular phone on September 2 for $313. On September 6, Elegant sells another cellular phone for $405. Sales tax is computed at 2.7% of the total sale. What is the total...

gant Electronics sells a cellular phone on September 2 for $ 4 3 6 . On September 6 , Elegant sells another cellular phone for $ 4 2 8 . Sales tax is computed at % of the total sale. lat is the sales...

Elegant Electronics sells a cellular phone on September 2 for $335. On September 6, Elegant sells another cellular phone for $380. Sales tax is computed at 1.4% of the total sale. What is the sales...

Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare journal...

FNB results show double digit growth as digital strategy takes off (Bloomberg) You wouldnt say South Africa was in the grips of a recession by looking at the retail-banking unit of FirstRand Ltd.,...

25 items were placed on test and the test was terminated after a pre-assigned time to 20 hours from the starting time. 10 items failed before time to at 3-8, 5-9, 6-3, 6-5, 7-5, 7-7, 10-5, 13:2, 13-5...

What is the minimum amount of money that he should set aside in an emergency fund?

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

3. Assess the quality or value of communication by examining its six characteristics

5. Describe the visual representations, or models, of communication

4. Define what communication scholars consider to be competent communication