(L01) (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of...

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(L01) (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of $233,200 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by July 15.

Instructions Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements.

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Intermediate Accounting

ISBN: 9781119231530

16th Edition

Authors: Donald E. Kieso

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Question Posted: Sep 20, 2024 12:02 AM

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(L01) (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of...

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Intermediate Accounting

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