Blossom Corporation made credit sales of $44,400 which are subject to 7% sales tax. The corporation...
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Blossom Corporation made credit sales of $44,400 which are subject to 7% sales tax. The corporation also made cash sales which totaled $11,556 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Blossom's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Accounts Receivable Sales Revenue Sales Taxes Payable Debit 75480 Credit 44400 31080 Blossom Corporation made credit sales of $44,400 which are subject to 7% sales tax. The corporation also made cash sales which totaled $11,556 including the 7% sales tax. (a) Your answer is partially correct. Prepare the entry to record Blossom's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Accounts Receivable Sales Revenue Sales Taxes Payable Debit 75480 Credit 44400 31080
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