Question
On July 5, W company recorded sales of merchandise inventory on account, $ 60000. The sales were subject to sales tax of 4%. On August
On July 5, W company recorded sales of merchandise inventory on account, $ 60000. The sales were subject to sales tax of 4%. On August 15, W company paid the sales tax owed to the state from the July 5 transaction.
Journalize the transaction to record sale.
Journalize the transaction to record the payment of sales tax to the state.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
