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On August 10, Gunther Company recorded sales of merchandise inventory on account, $3,800. The sales were subject to sales tax of 8%. The company uses
On August 10, Gunther Company recorded sales of merchandise inventory on account, $3,800. The sales were subject to sales tax of 8%. The company uses the perpetual inventory system. On September 30, Gunther paid $404 of sales tax to the state 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold 2. Journalize the transaction to record the payment of sales tax to the state (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. Date Accounts and Explanation Debit Credit Aug. 10 2. Journalize the transaction to record the payment of sales tax to the state Date Accounts and Explanation Debit Credit Sep. 30
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