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Osgood Company sold merchandise on account, $10,000, terms n/30. The applicable sales tax percentage is 7.5%. COMS was $8,000. Osgood uses the perpetual inventory method.

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Osgood Company sold merchandise on account, $10,000, terms n/30. The applicable sales tax percentage is 7.5%. COMS was $8,000. Osgood uses the perpetual inventory method. Finish the journal entry. Ensure you put DEBITS (not indented) and CREDITS (indented) in the proper places Accounts Receivable Drag answer here $10,000 $10,750 Sales Drag answer here $18,000 Sales Tax Payable Drag answer here $18,000 $8,000 Cost of Merchandise Sold Drag answer here $10,750 Merchandise Inventory Drag answer here $750 $2,000 Osgood Company sold merchandise on account, $10,000, terms n/30. The applicable sales tax percentage is 7.5%. COMS was $8,000. Osgood uses the perpetual inventory method. Finish the journal entry. Ensure you put DEBITS (not indented) and CREDITS (indented) in the proper places $18,000 Accounts Receivable Drag answer here $8,000 Sales Drag answer here $10,750 $750 Sales Tax Payable Drag answer here $2,000 Cost of Merchandise Sold Drag answer here $2,000 $8,000 Merchandise Inventory Drag answer here $10,000

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