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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Vaughn A.. enters sales and sales taxes separately
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.
1. | Vaughn A.. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales TRY54,800 and sales taxes TRY3,288. | |
2. | Bramble A.. does not segregate sales and sales taxes. Its register total for April 15 is TRY20,330, which includes a 7% sales tax. |
Prepare the entry to record the sales transactions and related taxes for each client
CALCULATOR PRINTER VERSION BACK Question 1 In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Vaughn A.. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales TRY54,800 and sales taxes TRY3,288. 2. Bramble A.. does not segregate sales and sales taxes. Its register total for April 15 is TRY20,330, which includes a 7% sales tax. Prepare the entry to record the sales transactions and related taxes for each client. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation VAUGHN A. . Apr. 10 BRAMBLE A. . Apr. 15Step by Step Solution
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