Consider the following transactions of Johnson Software: Mar. 31 Apr. 6 Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Mar. 31 Debit Credit

Consider the following transactions of Johnson Software: Mar. 31 Apr. 6 Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $160,000, plus sales tax of 7% collected for the state of New Jersey. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Mar. 31 Debit Credit

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section: Chapter Questions

Problem 1MP

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Analyze: What were the total cash receipts during March? can you help me how to do it, please?
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questions displayed below.] The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit Office Expense Sales Returns and Allowances Salaries and Wages Expense E6-17 (Algo) Part 2 2-a. What was the dollar amount of gross profit? 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a. Gross Profit 2-b. Gross Profit Percentage MERCA Prev % 78 of 13 $ 171,000 19,530 252,000 44,400 19,600 7,410 42,600 Next > #
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[A] Instructions: Compute for the required item (refer to the photo below) using a yellow ruled sheet. (Show solution)