Dextra Computing sells merchandise for $14,000 cash on September 30 (cost of merchandise is $9,800). Dextra collects 4% sales tax. Record the entry for the $14,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.

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A: Journal entries are used to record all the financial transactions in a business. It helps to know…

Q: 7

A: DateAccount Titles and ExplanationDebitCreditSeptember 30 (1)Cash$15,000  Sales  $13,950 Sales Tax…

Q: Sold merchandise on account to Larry Simpson, $4,780.00, plus sales tax. S395.

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A: The sales tax payable is recorded as current liability.The sales tax liability is calculated on the…

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A: JOURNAL ENTRIESJournal Entry is the first stage of Accounting Process. Journal Entry is the Process…

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Q: Merchandise is sold for cash. The selling price is the merchandise is $5,000 and the sale is subject…

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A: Given information is: Billing amount = $1,144 Excise tax = 10% State Sales Tax = 6%

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Q: QS 9-3 (Algo) Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $4,000 cash on…

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