(Sales price is $100, sales tax is $7.25 and the item sold has a cost of...

Question

Question

(Sales price is $100, sales tax is $7.25 and the item sold has a cost of $75 what would be the journal entry for this transaction.

business accounting

Answer 1

Answer #1

Journal entry for credit sale Debit credit $ 107.25 Account Receivables sales Revenue sales tax payable $100 $7.25 If we foll

Answer 2

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