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QS 9-3 (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 7% 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. View transaction list 1 Record the cash sales and 7% sales tax. 2 Record the cost of September 30th sales. 3 Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. Note: = journal entry has been entered Record entry Credit Clear entry View general journal

QS 9-3 (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 7% 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. View transaction list 1 Record the cash sales and 7% sales tax. 2 Record the cost of September 30th sales. 3 Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. Note: = journal entry has been entered Record entry Credit Clear entry View general journal

FINANCIAL ACCOUNTING
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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QS 9-3 (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 7% 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. View transaction list 1 Record the cash sales and 7% sales tax. 2 Record the cost of September 30th sales. 3 Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. Note: = journal entry has been entered Record entry Credit Clear entry View general journal
Transcribed Image Text:QS 9-3 (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 7% 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. View transaction list 1 Record the cash sales and 7% sales tax. 2 Record the cost of September 30th sales. 3 Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15. Note: = journal entry has been entered Record entry Credit Clear entry View general journal
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