On July 5, Weimer Conpany recorded sales of menchandise inventory on account, $60,000. The sales...
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On July 5, Weimer Conpany recorded sales of menchandise inventory on account, $60,000. The sales were subject to sales tax of 6%. On August 15, Weimer Company paid the sales ta owed to the state from the Juty 5 transaction. Requirements 1. Journalize the transaction to record the sale on July-5. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state on August 15. Requirement 1. Journalize the transaction to record the sale on July 5 Ignone cost of goods sold. (Record debis first, then credits. Select the explanation on the last line of the joumal entry table. Prepare a single compound entry for this transaction) owed to the state from the July 5 transaction. Requirements 1. Journalize the transaction to record the sale on July 5. Ignore cost of goods sold. 2. Joumalize the transaction to record the payment of sales tax to the state on August 15
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