Dillons Corporation made credit sales of $30,000 which are subject to 6% sales tax The corporation also made cash sales whichtotaled $20 670 including the 6% sales tax.Prepare the entry to record Dillons Cash SalesO CashS20,670Sales RevenueS20 670O Cash$20 670Sales Revenue$19.500Sales Tax Payable$1.170Accounts Receivable520.670Sales Revenue$19.600Sales Tax Payable$1.170None of the Above

Given information is: Cash sales amount = $20670 Sales tax = 6%

Dillons Corporation made credit sales of S30,000 which are subject to 6% sales tax The corporation also made cash sales which totaled $20 670 including the 6% sales tax Prepare the entry to record Dillons Cash Sales O Cash Sales Revenue $20 670 S20 670 Cash $20 670 Sales Revenue $19 500 $1170 $20 670 $19.500 S1.170 Sales Tax Payable Accounts Receivable Sales Revenue Sales Tax Payable ONone of the Above

Dillons Corporation made credit sales of S30,000 which are subject to 6% sales tax The corporation also made cash sales which totaled $20 670 including the 6% sales tax Prepare the entry to record Dillons Cash Sales O Cash Sales Revenue $20 670 S20 670 Cash $20 670 Sales Revenue $19 500 $1170 $20 670 $19.500 S1.170 Sales Tax Payable Accounts Receivable Sales Revenue Sales Tax Payable ONone of the Above

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter15: Choice Of Business Entity—other Considerations

Section: Chapter Questions

Problem 72P

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