Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

On August 10 , Johnson Company recorded sales of merchandise inventory on account, $5,200. The sales were subject to sales tax of 3%. The company

image text in transcribed
image text in transcribed
On August 10 , Johnson Company recorded sales of merchandise inventory on account, $5,200. The sales were subject to sales tax of 3%. The company uses the perpetual inventory system. On September 30 , Johnson paid $256 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. 1. Journalize the transaction to record the sale on August 10 Ignore cost of goods sold. Accounts and Explanation 1. Journalize the transaction to record the sale on August 10 . Ignore cost of goods sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions