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Question -

1. Cerviq Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100.

2. Quartz Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax.

Instructions - Prepare the entries to record the sales transactions and related taxes for (a) Cerviq Company and (b) Quartz Company. Journalize payroll entries.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M93126605
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