Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Pina Colada Corp. does enters sales and sales taxes separately on its cash register (top one April 10th) 2. Cullumber company does not segregate
1. Pina Colada Corp. does enters sales and sales taxes separately on its cash register (top one April 10th)
2. Cullumber company does not segregate sales and sales taxes. (bottom one Apirl 15th)
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. s cash register. On April 10, the register totals are sales $37,000 and sales taxes $1,850. Its register total for April 15 is $22,896, which includes a 6\% sales tax. Prepare the entries to record the sales transactions and related taxes for Pina Colada Corp. and Cullumber Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)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