Wafa Company did not segregate tax amount with sales. For the month of November It...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Wafa Company did not segregate tax amount with sales. For the month of November It shows a total amount of the bill 59,000. Sales are subject to 18% sales tax.
Instructions:
Compute the amount of of sales tax ? (2 marks)
Prepare the journal entry to record the sale in Wafa books for the month of November. (2 marks)
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!
