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eBook B Print Question 2 Not complete Marked out of 11.00 Flag question Excise and Sales Tax Calculations Barnes Company has just billed a customer
eBook B Print Question 2 Not complete Marked out of 11.00 Flag question Excise and Sales Tax Calculations Barnes Company has just billed a customer for $8,700, an amount that includes a 10% excise tax and a 6% state sales tax. a. What amount of revenue is recorded? b. Prepare a general journal entry to record the transaction on the books of Barnes Company. Round all answers to the nearest dollar. a. Amount of recorded revenue $ b. General Journal Description Debit Credit Date Dec.31 $ Excise Tax Payable Sales Tax Payable To record sale on account subject to excise tax and sales tax. Check
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