Cortex Technology operates retail stores throughout the tri-state area. The company's sales are subject to...
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Accounting
Cortex Technology operates retail stores throughout the tri-state area. The company's sales are subject to a 6% sales tax payable to the state and county government. At the end of the current year, Cortex reported accounts receivable of $5,618,000 for credit sales, which includes the sales value of the merchandise sold plus the sales taxes. Read the requirements LOADING... . Requirement a. Prepare the journal entry required to record the sales for the current year
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