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Northern Company sells four tires to Road Runner. Each tire retails for $ 5 7 0 and is subject to sales tax of 5 %
Northern Company sells four tires to Road Runner. Each tire retails for $ and is subject to sales tax of and federal excise tax of Northern Company's journal entry to record the transaction is:
tableACash,Sales,BCash,Sales,
C Cash
Sales
Sales Tax Payable
Excise Tax Payable
D Cash
Sales Tax Expense
Excise Tax Expense
Sales
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