I could really use some help with this problem it’s due in a few hours thanks Skysong, Inc. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales$32,500 and sales taxes $1,625.1.Oriole Company does not segregate sales and sales taxes. Its register total for April 15 is $25,038, which includes a 7%sales tax.2.Prepare the entries to record the sales transactions and related taxes for Skysong, Inc. and Oriole Company. Omit the cost of goodsold entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)No.DateAccount Titles and ExplanationDebitCreditSkysong, Inc.1.Apr. 10Apr. 15Oriole Company2.F9F6F4&*2$894.5YUPGH.KValtCommandoptionVJ.

Journal Entry: Journal entry forms the basis of accounting. It refers to an entry that is made to record the transactions which are financial in nature.The journal entries are as follows: The resultant table is as follows:

Business

Accounting

1. Skysong, Inc. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $32,500 and sales taxes $1,625. 2. Oriole Company does not segregate sales and sales taxes. Its register total for April 15 is $25,038, which includes a 7% sales tax. Prepare the entries to record the sales transactions and related taxes for Skysong, Inc. and Oriole Company. Omit the cost of good sold entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit Skysong, Inc. 1. Apr. 10

1. Skysong, Inc. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $32,500 and sales taxes $1,625. 2. Oriole Company does not segregate sales and sales taxes. Its register total for April 15 is $25,038, which includes a 7% sales tax. Prepare the entries to record the sales transactions and related taxes for Skysong, Inc. and Oriole Company. Omit the cost of good sold entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit Skysong, Inc. 1. Apr. 10

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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