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12-2 In providing accounting services to small businesses, you encounter the following situa- tions pertaining to cash sales: (a) Sue Jackson Company rings up sales
12-2 In providing accounting services to small businesses, you encounter the following situa- tions pertaining to cash sales: (a) Sue Jackson Company rings up sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,000 and sales taxes $2,000. (b) Person Company does not segregate sales and sales taxes. Its register total for April 15 is $28,800, which includes an 8 percent sales tax. Instructions Prepare the entry to record the sales transactions and related taxes for each client.
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