Target Shoppers Inc. reported cash sales of $16,200 for the month of June 2020. Sales taxes payable are recorded at the point of

Question

3 years ago

12

Target Shoppers Inc. reported cash sales of $16,200 for the month of June 2020. Sales taxes payable are recorded at the point of

sale. a. Assume that sales of Target Shoppers Inc. are subject to a 5% sales tax. Record the sales entry. b. Now assume that the cash collected on sales includes the 5% sales tax. Record the sales entry. Note: Round your answers to the nearest whole dollar. Note: List multiple debits or credits (when applicable) in alphabetical order.

Business

1 answer:

Usimov [2.4K] · Answer 1 · 2022-09-09T11:03:03+03:00

Usimov [2.4K]3 years ago

4 0

Answer:

17000

Explanation:

17000