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A retailer sold merchandise for $1,000 cash on February 28 (Cost of Merchandise was $650). The retailer also collected the 13% sales tax. The
A retailer sold merchandise for $1,000 cash on February 28 (Cost of Merchandise was $650). The retailer also collected the 13% sales tax. The collected taxes were sent to the government on March 14. Prepare the necessary journal entries. [3 Marks]
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
