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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales, 1. Novak Corp. enters sales and sales taxes separately
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales, 1. Novak Corp. enters sales and sales taxes separately in its cash register. On April 10, the register totals are sales $42,000 and sales taxes $2,100. Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,005, which includes a 7% sales 2. 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.) No. Date Account Titles and Explanation Novak Corp Debit Credit 1. Crane Company 2
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