Question
In providing accounting services to small business, you encounter the following situations pertaining to cash sales. (1) Sarasota Company rings up sales and sales taxes
In providing accounting services to small business, you encounter the following situations pertaining to cash sales. (1) Sarasota Company rings up sales and sales taxes separately on its cash register. On April 10 the register totals are sales $64,000 and sales taxes $2,600. (2) Tammy Company does not segregate sales and sales taxes. Its register total for April 15 is $23,320, which includes a 6% sales tax. Prepare the entries to record the sales transactions and related taxes for Sarasota Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 10 enter an account title for the journal entry on April 10 enter a debit amount enter a credit amount enter an account title for the journal entry on April 10
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