Question
On August 10, Johnson Company recorded sales of merchandise inventory on account, $4,400. The sales were subject to sales tax of 7%. The company uses
On August 10, Johnson Company recorded sales of merchandise inventory on account, $4,400. The sales were subject to sales tax of 7%. The company uses the perpetual inventory system. On September 30,
Johnson Company paid $ 583 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.)
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Part 1
1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold.
Date | Accounts and Explanation | Debit | Credit |
Aug. 10 | |||
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