Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

on july 5, the mayer corporation recorded sale of merchandise inventory on account $30,000. The sale were subject to sales tax of 6%. On august

on july 5, the mayer corporation recorded sale of merchandise inventory on account $30,000. The sale were subject to sales tax of 6%. On august 15, the moyer company paid 1000 of sales tax to state

Requirements:

1: Journalize the transaction to record the sale on July 5. Ignore cost of good sold

2: Journalize the transaction to record the payment of sales tax to the state.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Payroll Accounting 2022

Authors: Bernard J. Bieg, Judith A. Toland

32nd Edition

0357518756, 9780357518755

More Books

Students also viewed these Accounting questions

Question

What are the pros and cons of using a public relations firm?

Answered: 1 week ago