Question
Journalize the entries to record the following selected transactions. a. Sold $2,700 of merchandise on account, subject to a sales tax of 7%. The cost
Journalize the entries to record the following selected transactions.
a. Sold $2,700 of merchandise on account, subject to a sales tax of 7%. The cost of merchandise sold was $1,590. For a compound transaction, if an amount box does not require an entry, leave it blank.
| Accounts Receivable | |||
| Sales | |||
| Sales Tax Payable | |||
| Cost of Merchandise Sold | |||
| Merchandise Inventory |
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Auditing A Risk Based Approach to Conducting a Quality Audit
Authors: Karla Johnstone, Audrey Gramling, Larry E. Rittenberg
10th edition
1305080572, 978-1305465664, 1305465660, 978-1305080577
