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Make joirnal entried for one and two and explain how In performing accounting services for small businesses, you encounter the following situations pertaining to cash
Make joirnal entried for one and two and explain how
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. 2. Wildhorse Co. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $33,000 and sales taxes $1,650. Carla Vista Co. does not segregate sales and sales taxes. Its register total for April 15 is $22,140, which includes a 8% sales tax. Prepare tabular summaries to record the sales transactions and related taxes for Wildhorse Co.. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negafive sign (or parentheses) in front of the amount entered for the particular Asset, ability or Equity item that was reduced.)
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