Prepare the entry to record Dillons Credit Sales O Accounts Receivable $30,000 Sales $30,000 O Accounts Receivable $30,000 Sales $28 200 Sales tax Payable $1.800 O Accounts Receivable $30.000 Sales $28.200 Cash $1.800 O Accounts Receivable $31,800 Sales Sales tax Payable $30 000 S1 800

Prepare the entry to record Dillons Credit Sales O Accounts Receivable $30,000 Sales $30,000 O Accounts Receivable $30,000 Sales $28 200 Sales tax Payable $1.800 O Accounts Receivable $30.000 Sales $28.200 Cash $1.800 O Accounts Receivable $31,800 Sales Sales tax Payable $30 000 S1 800

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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Question

Dillons Corporation made credit sales of $30 000 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 Credit Sales
O Accounts Receivable
$30.000
Sales
$30,000
O Accounts Receivable
$30,000
Sales
$28.200
Sales tax Payable
$1 800
O Accounts Receivable
$30,000
Sales
$28.200
Cash
$1.800
Accounts Receivable
$31.800
$30 000
$1 800
Sales
Sales tax Payable

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