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In providing accounting services to small businesses, you encounter the following situations pertaining to cash sales. 1. Duvall Company rings up sales and sales taxes seperately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100. 2. Hubbard Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax. **Prepare the entries to record the sales transactions and related taxes for (a) Duvall Company and (b) Hubbard Company.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9991097

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