In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1.
Question:
1. Miraz Company rings up sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $1,500.
2. Trumpkin Company does not segregate sales and sales taxes. Its register total for April 15 is $23,540, which includes a 7% sales tax.
Instructions
Prepare the entry to record the sales transactions and related taxes for each client.
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MIRAZ COMPANY Apr 10 Cash 31500 Sales Re...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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