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Excise and Sales Tax Calculations Barnes Company has just billed a customer for $1,300, an amount that includes a 10% excise tax and a
Excise and Sales Tax Calculations Barnes Company has just billed a customer for $1,300, 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 $ 0 100 Date Dec 31 General Journal Description Debit Credit 0 $ 0 S 0 Excise Tax Payable 0 Sales Tax Payable 0 0 0 NON To record sale on account subject to excise tax and sales tax Please answer all parts of the question.
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