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In performing accounting services for small businesses, you...

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Accounting

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In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Pharoah Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $30,500 and sales taxes $1,525. 2. Cullumber Company does not segregate sales nd sales taxes. Its register total for April 15 is $22,790, which includes a 6% sales tax. (a) Your answer is correct. Prepare the entry to record the sales transactions and related taxes for Pharoah Company. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Prepare the entry to record the sales transactions and related taxes for Cullumber Company, (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter ofor the amounts.)

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