Question
Blue Spruce Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $18,550. All sales
Blue Spruce Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $18,550. All sales are subject to a 6% sales tax. Compute sales taxes payable. Sales taxes payable Prepare a tabular summary to record sales taxes payable and sales. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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