Business, 18.07.2020 18:01 kalieghcook
In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales.
1. Cerviq Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $22,000 and sales taxes $1,100.
2. Quartz Company does not segregate sales and sales taxes. Its register total for April 15 is $13,780, which includes a 6% sales tax.
Required:
a. Prepare the entry to record the sales transactions and related taxes for Cerviq Company.
b. Prepare the entry to record the sales transactions and related taxes for Quartz Company.
Answers: 2
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