Excise and Sales Tax Calculations Barnes Company has just billed a customer for $1,010, an amount that includes a eleven percent excise tax and a four percent 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 $Answer

b.

General Journal
Date	Description	Debit	Credit
Dec.31	AnswerAccounts ReceivableExcise Tax PayableSales Tax PayableSales	$Answer	$Answer
	Excise Tax Payable	Answer	Answer
	Sales Tax Payable	Answer	Answer
	AnswerAccounts ReceivableExcise Tax PayableSales Tax PayableSales	Answer	Answer
	To record sale on account subject to excise tax and sales tax.