In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575. 2. Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,850, which includes a 6% sales tax. Prepare the entry to record the sales transactions and related taxes for Sunland Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 10 enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Sunland Company on April 10 enter a debit amount enter a credit amount eTextbook and Media List of Accounts Prepare the entry to record the sales transactions and related taxes for Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Apr. 15 enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount enter an account title to record the sales transactions and related taxes for Crane Company on April 15 enter a debit amount enter a credit amount

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 4PB: The following transactions were completed by Yang Restaurant Equipment during January, the first...

See similar textbooks

Related questions

Question

In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.

1.		Sunland Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $31,500 and sales taxes $1,575.
2.		Crane Company does not segregate sales and sales taxes. Its register total for April 15 is $23,850, which includes a 6% sales tax.

Prepare the entry to record the sales transactions and related taxes for Sunland Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 10	enter an account title to record the sales transactions and related taxes for Sunland Company on April 10	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Sunland Company on April 10	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Sunland Company on April 10	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Prepare the entry to record the sales transactions and related taxes for Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 15	enter an account title to record the sales transactions and related taxes for Crane Company on April 15	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Crane Company on April 15	enter a debit amount	enter a credit amount
	enter an account title to record the sales transactions and related taxes for Crane Company on April 15	enter a debit amount	enter a credit amount

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Financial Reporting in Hyperinflationary Economies

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.