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.

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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