Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me calculate the numbers for this question. How do I calculate accounts receivable, sales revenue and sales tax payable? During December, Alaskan Services

image text in transcribedPlease help me calculate the numbers for this question. How do I calculate accounts receivable, sales revenue and sales tax payable?

During December, Alaskan Services makes a credit sale of $4,600 (before sales taxes). The state sales tax rate is 6% and the local sales tax rate is 2.5%.

Record sales and sales tax payable.

Brief Exercise 8-8 (Algo) Record sales tax (LO8-4) During December, Alaskan Services makes a credit sale of $4,600 (before sales taxes). The state sales tax rate is 6% and the local sales tax rate is 2.5%. Record sales and sales tax payable. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the sale including the sales tax. Note: Enter debits before credits

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

Theory And Practice Of Australian Auditing

Authors: Schelluch Gul, Teoh, Andrew

1st Edition

0170092445, 978-0170092449

More Books

Students also viewed these Accounting questions