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For the month of November, Parry Sound Sales Ltd. recorded $280,000 in sales, 40% of which were on account (terms N30), and 60% of
For the month of November, Parry Sound Sales Ltd. recorded $280,000 in sales, 40% of which were on account (terms N30), and 60% of which were cash sales. The company is required to charge 6% PST and 5% GST on all sales. Required: Prepare one journal entry to record the company's sales for November.
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Journal Entry Account Titles Debit Cr...
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
