QS 11-3 (Algo) Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). Dextra collects 5% sales tax. Record the entry for the $15,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.

QS 11-3 (Algo) Accounting for sales taxes LO C2 Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). Dextra collects 5% sales tax. Record the entry for the $15,000 sale and its sales tax. Also record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 6EB: Monster Drinks sells twenty-four cases of beverages on October 18 for $120 per case. On October 25,...

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