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During the month of June, Redcard Company recorded cash sales of $250,000 and credit sales of $100,000, both of which include the 9% sales tax
During the month of June, Redcard Company recorded cash sales of $250,000 and credit sales of $100,000, both of which include the 9% sales tax that must be remitted to the state by July 15. Instructions: Prepare the adjusting entry that should be recorded to fairly present the June 30 financial statements
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