EAB. LO 122 Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare jourral entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23.

EAB. LO 122 Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells another cellular phone for $500. Sales tax is computed at 3.5% of the total sale. Prepare jourral entries for each sale, including sales tax, and the remittance of all sales tax to the tax board on October 23.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 6EA: Elegant Electronics sells a cellular phone on September 2 for $450. On September 6, Elegant sells...

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