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Vision Electronics sells a cellular phone on July 2 for $850. On July 10, Vision Electronics sells another cellular phone for $850. Sales tax is
Vision Electronics sells a cellular phone on July 2 for $850. On July 10, Vision Electronics sells another cellular phone for $850. Sales tax is computed at 5% of the total sale. Prepare revenue journal entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on August 8.
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To prepare the revenue journal entries for the sale of the cellular phones and the remittance of sales tax we need to account for the sales amount sal...
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Principles Of Accounting Volume 1 Financial Accounting
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
1st Edition
1593995946, 978-1593995942
