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Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are
Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are subject to 18% sales tax.
Instructions:
- Compute the amount of of sales tax ?
- Prepare the journal entry to record the sale in Wafa books for the month of November.
Solution question 3:
1. Amount of sales tax
2. Journal entry
Date | Account title and explanation | Debit | Credit |
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