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QS 9-2 Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $4,000 cash on September 30 (cost of merchandise is $2,800). The sales
QS 9-2 Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $4,000 cash on September 30 (cost of merchandise is $2,800). The sales tax law requires Dextra to collect 6% sales tax on every dollar of merchandise sold. Record the entry for the $4,000 sale and its applicable sales tax. Also record the entry that shows the payment of the 6% tax on this sale to the state government on October 15.
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