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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Carla Vista Co. enters sales and sales taxes
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.
1. | Carla Vista Co. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $32,000 and sales taxes $1,600. | |
2. | Wildhorse Co. does not segregate sales and sales taxes. Its register total for April 15 is $24,380, which includes a 6% sales tax. |
what is the entry to record the sales transactions and related taxes for Carla Vista Co..
what is the entry to record the sales transactions and related taxes for Wildhorse Co..
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