Question
Vaughn Corporation made credit sales of $39,600 which are subject to 5% sales tax. The corporation also made cash sales which totaled $16,905 including
Vaughn Corporation made credit sales of $39,600 which are subject to 5% sales tax. The corporation also made cash sales which totaled $16,905 including the 5% sales tax. (a) Prepare the entry to record Vaughn's credit sales. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield
13th Edition
9780470374948, 470423684, 470374942, 978-0470423684
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