Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A cash register tape shows cash sales of $9800 and sales taxes of $490. The journal entry to record this information is Cash 9800 Sales

A cash register tape shows cash sales of $9800 and sales taxes of $490. The journal entry to record this information is

Cash 9800
Sales Revenue 9800
Cash 10290
Sales Revenue 9800
Sales Taxes Payable 490
Cash 10290
Sales Tax Revenue 490
Sales Revenue 9800
Cash 9800
Sales Tax Expense 490
Sales Revenue 10290

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting For Decision Makers

Authors: Peter Atrill, Eddie McLaney

9th Edition

1292251255, 9781292251257

More Books

Students also viewed these Accounting questions

Question

Is P2 spanned by 1 + x + 2x2, 2 + x + 2x2, - 1 + x + 2x2?

Answered: 1 week ago

Question

2. Information that comes most readily to mind (availability).

Answered: 1 week ago

Question

3. An initial value (anchoring).

Answered: 1 week ago