Becah's Boot Co. had sales of merchandise of $9,700 in cash, and sales on account...

90.2K

Verified Solution

Question

Accounting

Becah's Boot Co. had sales of merchandise of $9,700 in cash, and sales on account totaled $24,200 on January 30th.

All sales are subject to an 10% sales tax.

Becah's Boot Co. had a balance of $320 in its Sales Tax Payable account at the start of the period.

On February 15th., Becah's Boot Co. paid $1,880 of sales tax to the state.

Journalize the transaction to record the sale of June 5. Ignore cost of goods sold.

Also, journalize the transaction for the payment of taxes to the state.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students