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How woukd I journalize this transaction? December 6 Completed service and installation work on a customer snowmobile and the customer paid $116.00 for two hours
How woukd I journalize this transaction? December 6 Completed service and installation work on a customer snowmobile and the customer paid $116.00 for two hours of labor, $500.80 for accessories, and 7% sales tax on the total (labor and accessories). Round all sales tax calculations to the nearest cent (Example: $43.176= $43.18 sales tax). Sales Invoice Number: G3009. Merchandise listed on the sales invoice: Item Quantity Stock Number B4400 CC555 Net Cost Per Unit $65.30 $27.25 MUFFLER PAK SUPER DUTY SHOCK 3 2 Each muffler pak being sold for $130.60 retail actually cost the business $65.30. The super duty shocks cost $27.25 each and are sold for $54.50. ALL accessories carry a 50% "normal" markup on selling price (100% markup on net cost)
How woukd I journalize this transaction?
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