On March 25, Osgood Company sold merchandise on account, $2,700, terms n/30. The applicable sales...
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On March Osgood Company sold merchandise on account, $ terms n The applicable sales tax percentage is Required: Record the transaction. Refer to the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTS Osgood Company General Ledger ASSETS Cash Accounts Receivable Notes Receivable Merchandise Inventory Estimated Returns Inventory Supplies Prepaid Insurance Land Equipment Accumulated Depreciation LIABILITIES Accounts Payable Salaries Payable Sales Tax Payable Customer Refunds Payable Unearned Rent Notes Payable EQUITY Common Stock Retained Earnings Dividends REVENUE Sales EXPENSES Cost of Merchandise Sold Delivery Expense Advertising Expense Depreciation Expense Salaries Expense Rent Expense Insurance Expense Supplies Expense Credit Card Expense Miscellaneous Expense Interest Expense
On March Osgood Company sold merchandise on account, $ terms n The applicable sales tax percentage is
Required:
Record the transaction. Refer to the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTS
Osgood Company
General Ledger
ASSETS
Cash
Accounts Receivable
Notes Receivable
Merchandise Inventory
Estimated Returns Inventory
Supplies
Prepaid Insurance
Land
Equipment
Accumulated Depreciation
LIABILITIES
Accounts Payable
Salaries Payable
Sales Tax Payable
Customer Refunds Payable
Unearned Rent
Notes Payable
EQUITY
Common Stock
Retained Earnings
Dividends
REVENUE
Sales
EXPENSES
Cost of Merchandise Sold
Delivery Expense
Advertising Expense
Depreciation Expense
Salaries Expense
Rent Expense
Insurance Expense
Supplies Expense
Credit Card Expense
Miscellaneous Expense
Interest Expense
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