Clifford Company has just billed a customer for $1,100, an amount that includes a eight...
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Accounting
Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent excise tax and a two percent state sales tax. a. What amount of revenue is recorded? b. Prepare a general journal entry to record the transaction on the books of Clifford Company. Round all answers to the nearest dollar. a. Amount of recorded revenue $ 0 General Journal Description $ Date Dec 31 Accounts Receivable Excise Tax Payable Sales Tax Payable Sales Debit Credit 1100 $ 0 0 00 To record sale on account subject to excise tax and sales tax
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