Starling company sells merchandise for 24000 cash on march, Ask an Expert

Accounting

Starling Company sells merchandise for $24,000 cash on March 31 (cost of merchandise is $12,300). The sales tax law requires Starling to collect 8.25% sales tax on every dollar of merchandise sold. Record the journal entry for the sale and its applicable sales tax.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946151

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