4.EApplications Rapidldentity XO Principles of Accounting I- A X9 Question 3 - Chapter 9 Quiz: A xezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%25SavedSave & Exit2: Accounting for Current Liabi... iCheck myRequired informationKnown (determinable) current liabilities are set by agreements or laws and are measurable with littleuncertainty. They include accounts payable, sales taxes payable, unearned revenues, notes payable, payrollliabilities, and the current portion of long-term debt.< Prevof 19Next >3..... .....IIF5F7F8F10F12Finder61DDI$4&%237.8.R RRO Applications Rapidldentity xOPrinciples of Accounting I- A X9 Question 3 - Chapter 9 Quiz: AXezto.mheducation.com/ext/map/index.html?_con=con&external_browser=D0&launchUrl=https%253A%252F%252FlmsAccounting for Current Liabi... AHelpSave & ExitSubmitSaved1.Check my workRequired information0:00 / 1:30CC30sXL目Knowledge Check 01On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who pays incash. The sale is subject to a 9.75 percent sales tax.Prepare the revenue portion of the journal entry by selecting the account names from the drop-down menus and entering thedollar amounts in the debit or credit columns.View transaction listJournal entry worksheetL< Prev3 4of 19Next >IIF3F4F5F7F8F10F12FinderLLDDIBa$5.63.4.H.

Solution: Journal entry to record revenue is as under:

On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who pays in cash. The sale is subject to a 9.75 percent sales tax. Prepare the revenue portion of the journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list

On February 13, a jewelry store sells an engagement ring with a sales price of $10,000 to a nervous young man, who pays in cash. The sale is subject to a 9.75 percent sales tax. Prepare the revenue portion of the journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list

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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