Becah's Boot Co. had sales of merchandise of $10,000 in cash, and sales on account totaled $25,000 on January 30th. All sales are subject
Becah's Boot Co. had sales of merchandise of $10,000 in cash, and sales on account totaled $25,000 on January 30th. All sales are subject to an 8% sales tax. Becah's Boot Co. had a balance of $350 in its Sales Tax Payable account at the start of the period. On February 15th., Becah's Boot Co. paid $1,900 of sales tax to the state. Journalize the transaction to record the sale of June 5. Ignore cost of goods sold. Also, journalize the transaction for the payment of taxes to the state. Date Description January 30 February 15 Debit Credit Compute the balance of the Sales Tax Payable account after the payment of February 15th. Sales Tax Payable
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