Question
Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $9,000). The sales tax law requires Dextra to collect 6% sales
Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $9,000). The sales tax law requires Dextra to collect 6% sales tax on every dollar of merchandise sold. Record the entry for the $15,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 6% tax on this sale to the state government on October 15.
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
