Question
Wildhorse Ranchers sells a herd of cattle to Rozo Meat Packers for 25,800 and the related VAT. Rozo Meat Packers sells the beef to Wrangler
Wildhorse Ranchers sells a herd of cattle to Rozo Meat Packers for 25,800 and the related VAT. Rozo Meat Packers sells the beef to Wrangler Supermarkets for 34,400 and the related VAT. Wrangler Supermarkets sells this beef to customers for 43,000 plus the related VAT.
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Assuming the VAT is 15% on all sales, prepare the journal entry to record the sale by Rozo Meat Packers to Wrangler Supermarkets. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation | Debit | Credit |
please use the table
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