Amount of sales taxes collected directly, Accounting Basics

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Amount of sales taxes collected directly

Carl's Video includes the amount of sales taxes collected directly in the price charged for merchandise, and the total amount is credited to Sales. During January, Sales was credited for $239,680. The January 31 adjusting entry to account for a 7% state sales tax should be?

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Accounting Basics: Amount of sales taxes collected directly

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Accounting Basics: Amount of sales taxes collected directly

Reference No:- TGS047012

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Most important corporate governance issues

Q : Estimating the redeemed coupons

Q : Derive the consumer-s marshallian demand for gasoline

Q : Balance of receivables

Q : Amount of sales taxes collected directly

Q : What is jon''s adjusted basis in his efg inc. stock

Q : Exceed free cash flow

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Q : How much gain or loss did xyz corp. recognize

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Amount of sales taxes collected directly

Reference No:- TGS047012

Recent Questions Asked Accounting Basics

Q : Most important corporate governance issues

Q : Estimating the redeemed coupons

Q : Derive the consumer-s marshallian demand for gasoline

Q : Balance of receivables

Q : Amount of sales taxes collected directly

Q : What is jon''s adjusted basis in his efg inc. stock

Q : Exceed free cash flow

Q : Maturing note payable

Q : How much gain or loss did xyz corp. recognize

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