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1. Mason Company makes sales on which an 6% sales tax is assessed. The following summary transactions were made during 2015: a. Cash sales of
1. Mason Company makes sales on which an 6% sales tax is assessed. The following summary transactions were made during 2015: a. Cash sales of $900,000, excluding sales taxes. b. Credit sales of $2,150,000, including sales taxes. C. Sales taxes of $213,500 were paid to the state. Required: Prepare journal entries to record the preceding transactions. (Round to the nearest whole number.) (8 pts) a. b. C. Debit Credit
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