On July? 5, Bramley Bramley Company recorded sales of merchandise inventory on? account, $15,000. The...
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Accounting
On July? 5, Bramley Bramley Company recorded sales of merchandise inventory on? account, $15,000. The sales were subject to sales tax of 7%. On August? 15, Bramley Bramley Company paid$450 of sales tax to the state.
Requirements
1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold.
2. Journalize the transaction to record the payment of sales tax to the state.
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