Exercise 10-05

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.

1.		Sandhill Co. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $32,500 and sales taxes $1,625.
2.		Carla Vista Co. does not segregate sales and sales taxes. Its register total for April 15 is $24,910, which includes a 6% sales tax.

Prepare the entry to record the sales transactions and related taxes for Sandhill Co.. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 10	enter an account title to record the sales transactions and related taxes for Sandhill Co. on April 10	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Sandhill Co. on April 10	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Sandhill Co. on April 10	enter a debit amount	enter a credit amount

SHOW LIST OF ACCOUNTS
LINK TO TEXT	LINK TO VIDEO

Prepare the entry to record the sales transactions and related taxes for Carla Vista Co.. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 15	enter an account title to record the sales transactions and related taxes for Carla Vista Co. on April 15	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Carla Vista Co. on April 15	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Carla Vista Co. on April 15	enter a debit amount	enter a credit amount