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The following transactions took place at Five Flags Amusement Park during May. Five Flags Amusement Park must charge 8 percent soles tax on all sales:
The following transactions took place at Five Flags Amusement Park during May. Five Flags Amusement Park must charge 8 percent soles tax on all sales: DATE TRANSACTIONS 20x1 may 1 Sold merchandise on account to Bill Gomez: issued Sales Slip 1015 for $1,000 plus a percent sales tax, terns w/30. 15 Recorded cash sales, $4,000 plus 8 percent sales tax. 31 Received paynent on account due from Bill Gomez for the sale on May 1. Required: Record the above transactions in a general journal View transaction list Journal entry worksheet Sold merchandise on account to Bill Gomez; issued Sales Slip 1015 for $1,600 plus 8 percent sales tax, terms 1/30. Note: Enter debits before credit Date General Journal Debit Credit May 1, 20X1 Required: Record the above transactions in a general journal: View transaction list 1 Sold merchandise on account to Bill Gomez; issued Sales Slip 1015 for $1,600 plus 8 percent sales tax, terms n/30. 2 Recorded cash sales, $4,000 plus 8 percent sales tax. 3 Received payment on account due from Bill Gomez for the sale on May 1. Note: journal entry has been entered Record entry Clear entry
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