1. On July 15, Fruita Co. sold $13,000 of merchandise (costing $6,500) for cash. The...
80.2K
Verified Solution
Link Copied!
Question
Accounting
1. On July 15, Fruita Co. sold $13,000 of merchandise (costing $6,500) for cash. The sales tax rate is 4%. On August 1, Fruita sent the sales tax collected from the sale to the government. Record entries for the July 15 and August 1 transactions 2. On November 3, the Bolder Bucks sold a six game pack of advance tickets for $390 cash. On November 20, the Bucks played the first game of the six game pack (this represented one-sixth of the advance ticket sales). Record the entries for the November 3 and November 20 transactions, View transaction list Journal entry worksheet 2 3 4 1 5 Record the entry for cash sales and its sales taxes. Note: Enter debits before credits Debit Credit General Journal Date Jul 15 View general Journal Clear entry Record entry
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
