Sunland Company Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $13,375. All sales are subject to a 7% sales tax. Compute sales taxes payable. Sales taxes payable $ enter a dollar amount Make the entry to record sales taxes payable and sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 16 enter an account title to record sales taxes payable and sales on March 16 enter a debit amount enter a credit amount enter an account title to record sales taxes payable and sales on March 16 enter a debit amount enter a credit amount enter an account title to record sales taxes payable and sales on March 16 enter a debit amount
Sunland Company Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $13,375. All sales are subject to a 7% sales tax. Compute sales taxes payable. Sales taxes payable $ enter a dollar amount Make the entry to record sales taxes payable and sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 16 enter an account title to record sales taxes payable and sales on March 16 enter a debit amount enter a credit amount enter an account title to record sales taxes payable and sales on March 16 enter a debit amount enter a credit amount enter an account title to record sales taxes payable and sales on March 16 enter a debit amount
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 7MCQ
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Question
Sunland Company Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $13,375. All sales are subject to a 7% sales tax.
Compute sales taxes payable.
|
Sales taxes payable
|
$ enter a dollar amount |
|---|
Make the entry to record sales taxes payable and sales. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
|
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
|---|---|---|---|
|
Mar. 16
|
enter an account title to record sales taxes payable and sales on March 16
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record sales taxes payable and sales on March 16
|
enter a debit amount
|
enter a credit amount
|
|
|
enter an account title to record sales taxes payable and sales on March 16
|
enter a debit amount
|
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