Question: Current Attempt in Progress In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Concord Corporation enters sales

 Current Attempt in Progress In performing accounting services for small businesses,
you encounter the following situations pertaining to cash sales. 1. Concord Corporation

Current Attempt in Progress In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Concord Corporation enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $32,000 and sales taxes $1,600 2. Ivanhoe Company does not segregate sales and sales taxes. Its register total for April 15 is $25,122, which includes a 6% sales tax. Prepare the entries to record the sales transactions and related taxes for Concord Corporation and Ivanhoe Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Prepare the entries to record the sales transactions and related taxes for Concord Corporation and Ivanhoe Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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