Excise and Sales Tax Calculations Allied Company has just billed a customer for $1,160, an amount that includes a ten percent excise tax and a six percent state sales tax a What amount of revenue is recorded b Prepare a journal entry to record the transaction on the books of Allied Company Round all answers to the nearest dollar a Amount of recorded revenue $ 1,000 b $ $ General Journal Date Description Dec 31 Accounts Receivable Excise Tax Payable Sales Tax Payable Excise Tax Payable To record sale on account subject to excise tax and sales tax Debit 1,160 ov OV 0 Credit 0 1,000 100 60 x

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Excise and Sales Tax Calculations Allied Company has just billed a customer for $1,160, an amount that includes a ten percent excise tax and a six percent state sales tax  a  What amount of revenue is recorded  b  Prepare a journal entry to record the transaction on the books of Allied Company  Round all answers to the nearest dollar  a  Amount of recorded revenue $ 1,000 b  $ $ General Journal Date Description Dec 31 Accounts Receivable Excise Tax Payable Sales Tax Payable Excise Tax Payable To record sale on account subject to excise tax and sales tax  Debit 1,160 ov OV 0 Credit 0 1,000 100   60 x

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Excise and Sales Tax Calculations Allied Company has just billed a customer for $1,160, an amount that includes a ten percent excise tax and a

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