Crystal Blue Publishing completed the following transactions for one subscriber during $2021$:

$($Click the icon to view the transactions.$)$

Requirement

Start by journalizing the October $1$st transaction. Recall Crystal Blue Publishing sold a one$-$year subscription, collecting cash of $$2,400,$ plus sales tax of $8\%.$

Journal Entry

More info

Oct $1$ Sold a one$-$year subscription, collecting cash of $$2,400,$ plus sales tax of

$8\%.$ The subscription will begin on October $1.$

Nov $15$ Remitted $($paid$)$ the sales tax to the state of North Carolina.

Dec $31$ Made the necessary adjustment at year$-$end.