Exercise 11-03 Your answer is partially correct. Try again. In performing accounting services for small...
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Exercise 11-03 Your answer is partially correct. Try again. In performing accounting services for small businesses, you encounter the following situations pertaining to cash sales. 1. Poole Company enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $59,000 and sales taxes $2,950. 2. Waterman Company does not segregate sales and sales taxes. Its register total for April 15 is $23,540, which includes a 7% sales tax. Prepare the entry to record the sales transactions and related taxes for each client. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation POOLE COMPANY Tcash Apr. 10 Sales Revenue venue BEZ 59000 Sales Taxes Payable kes Payable WATERMAN COMPANY Apr. 15 Cash Sales Revenue Sales Taxes Payable 1647.80 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS
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