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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1. Jackson Company enters sales and sales taxes separately
In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales.
1. | Jackson Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $45,800and sales taxes $2,519. |
2. | Pearson Company does not segregate sales and sales taxes. Its register total for April 15 is $22,470, which includes a7% 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.)
Date | Account Titles and Explanation | Debit | Credit |
JACKSON COMPANY | |||
Apr. 10 | |||
PEARSON COMPANY | |||
Apr. 15 | |||
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