Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. On July 15 , Piper Co. sold $13,000 of merchandise (costing $6,500 ) for cash. The sales tax rate is 4%. On August 1
1. On July 15 , Piper Co. sold $13,000 of merchandise (costing $6,500 ) for cash. The sales tax rate is 4%. On August 1 , Piper sent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions. 2. On November 3, the Milwaukee Bucks sold a six game pack of advance tickets for $390 cash. On November 20 , the Bucks played the first game of the six game pack (this represented one-sixth of the advance ticket sales). Record the entries for the November 3 and November 20 transactions. Journal entry worksheet 2345 Record the entry for cash sales and its sales taxes. Note: Enter debits before credits
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started