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During the month of June, Bridgeport Boutique recorded cash sales of $208,650 and credit sales of $109,033, both of which include the 7% sales tax
During the month of June, Bridgeport Boutique recorded cash sales of $208,650 and credit sales of $109,033, both of which include the 7% sales tax that must be remitted to the state by July 15. Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 30 Sales Revenue 20783 Salaries and Wages Payable 20783
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