Wafa Company did not segregate tax amount with sales. For the month of November It...
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Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are subject to 18% sales tax. Instructions: 1. Compute the amount of of sales tax? (2 marks) 2. Prepare the journal entry to record the sale in Wafa books for the month of November. (2 marks) Solution question 3: 1. Amount of sales tax 2. Journal entry Date Account title and explanation Debit Credit
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