Prepare a journal entry to record the sales revenue and sales tax for the month.

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A: Given information is: Billing amount = $1100 Excise tax = 8% State Sales Tax = 2%

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Q: During the month of September, the following transactions occurred. The applicable sales tax rate is…

A: Journal entries: Journal entries record the transactions of a business. It presents transactions…

Q: During the month of September, the following transactions occurred. The applicable sales tax rate is…

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Q: ournalize the entries to record the following selected transactions:   (a) Sold $ 2,000 of…

A: Definition: Journal: Journal is the method of recording monetary business transactions in…

Q: Answer all Questions. Ch.5-1

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Q: During December, Far Eas Services makes a credit sale of $1.600 (before sales taxes). The state…

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Q: During the month of September,Dalgona Supply store sold $58,000 of inentory,with $12,000 sold on…

A: The question is based on the concept of Financial Accounting.

Q: On January 15 , Tundra Co. sold merchandise to customers for cash of $ 41,000 ( cost $ 28,000 ) .…

A: A journal entry is the act of keeping records of any transaction either economic or non-economic.…

Q: The opening balance of accounts receivable is $20,000. During the month, $10,000 in sales were made…

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Q: Jason’s Doughnut Shop had cash sales for the day of $700. In addition, all sales are subject to an…

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Q: ournalize the entries to record the following selected transactions. Refer to the Chart of Accounts…

A: Sales tax on sale = $64,300*5% Sales tax on sale = $3,215

Q: During the month of October 20--, The Pink Petal flower shop engaged in the following transactions:

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Q: Sales revenue for a sporting goods store amounted to $535,000 for the current period. All sales are…

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Q: Juneau limited purchases all of its inventory on credit and always pays suppliers in the month…

A: Cash paid to suppliers = Total invoice value of purchases - Cash discount received

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A: Date Particulars Amount Credit Card Rate  Credit Card Charges  05-Jun  Sales   $             6,800…

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Q: ​Kathy's Corner Store has total cash sales for the month of​ $34,000 excluding sales taxes. If the…

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Q: 1. The table below shows the activity on the credit card statement of Miss PepperCorn for the month…

A: DateActivityLocationAmount05/05PaymentPayment$20005/15ChargeGas$52.3705/27ChargeMacy's$105.42

Q: Enter the following transactions in a cash receipts journal. Use a 5% sales tax rate. Total and rule…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

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A: Calculation of above requirement are as follows

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A: To calculate the net sales for the two months ended December 31, we need to consider the following…

Q: During December, Far West Services makes a $3,600 credit sale. The state sales tax rate is 6% and…

A: Total Sales tax payable =  Sales revenue x sales tax rate = 3600 x (6+2.5)% = $306