Marigold Corp. Supply does not segregate sales and sales taxes at the time of sale. The register
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Question:
Marigold Corp. Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $8,400. All sales are subject to a 5% sales tax.
Compute sales taxes payable.
Sales taxes payable | $ enter a dollar amount |
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Make the entry to record sales taxes payable and sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Mar. 16 | enter an account title to record sales taxes payable and sales on March 16 | enter a debit amount | enter a credit amount |
enter an account title to record sales taxes payable and sales on March 16 | enter a debit amount | enter a credit amount | |
enter an account title to record sales taxes payable and sales on March 16 | enter a debit amount | enter a credit amount |
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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