In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1.

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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.

1. Sue Jackson Company rings up sales and sales taxes separately on its cash register. On April 10. the register totals are sales $25,000 and sales taxes $1,500.

2. Person Company does not segregate sales and sales taxes. Its register total for April 15 is

$20,330. 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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Financial Accounting Text Only

ISBN: 9780006575405

5th Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

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Question Posted: Jun 10, 2024 01:22 AM

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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1.

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Financial Accounting Text Only

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