On August 10, Garcia Company recorded sales of merchandise inventory on account, $4,400. The sales...
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On August 10, Garcia Company recorded sales of merchandise inventory on account, $4,400. The sales were subject to sales tax of 10%. The company uses the perpetual inventory system. On September 30 Garcia paid $590 of sales tax to the state. 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold 2. Journalize the transaction to record the payment of sales tax to the state. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. 2. Inurnalize the transaction to record the payment of sales tax to the state
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