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Author Question: Capitol Chimney Co. had sales on account of $30,500 which were subject to state sales tax of 8%. The ... (Read 172 times)

frankwu

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on: Feb 18, 2020
Capitol Chimney Co. had sales on account of $30,500 which were subject to state sales tax of 8%. The entry to record the sales would be to:
◦ debit Accounts Receivable, $30,500; credit Sales revenue, $30,500.
◦ debit Accounts Receivable, $30,500; debit Sales tax payable, $2,440; credit Sales revenue, $32,940.
◦ debit Accounts Receivable, $32,940; credit Sales revenue, $30,500; credit Sales tax payable, $2,440.
◦ debit Accounts Receivable, $32,940; credit Sale revenue, $32,940.
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Marked as best answer by frankwu on Feb 18, 2020

LP

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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frankwu

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Reply 2 on: Feb 18, 2020
Excellent

Joy Chen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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